Ares Management (NYSE:ARES) Stock Rating Raised to “Strong-Buy” at Piper Sandler

Piper Sandler upgraded shares of Ares Management (NYSE:ARES) to a strong-buy rating in a research report sent to investors on Thursday,Zacks reports.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of Ares Management to a “hold” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their price objective on shares of Ares Management from $143.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Morgan Stanley set a $160.00 target price on Ares Management in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $144.00 target price on shares of Ares Management in a research report on Monday, August 3rd. Finally, Citizens Jmp decreased their price target on Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $159.81.

Ares Management Trading Down 1.2%

NYSE:ARES opened at $119.99 on Thursday. The stock has a market cap of $39.63 billion, a price-to-earnings ratio of 55.04, a PEG ratio of 1.08 and a beta of 1.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. Ares Management has a 1 year low of $95.80 and a 1 year high of $181.19. The business has a fifty day moving average of $134.04 and a 200-day moving average of $123.22.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities analysts predict that Ares Management will post 5.93 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $5.40 annualized dividend and a yield of 4.5%. Ares Management’s dividend payout ratio is currently 247.71%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARES. Renaissance Technologies LLC purchased a new position in Ares Management during the first quarter valued at approximately $9,350,000. Kingsview Wealth Management LLC purchased a new stake in Ares Management in the 4th quarter worth approximately $3,519,000. Bank of Nova Scotia lifted its position in Ares Management by 156.1% in the 1st quarter. Bank of Nova Scotia now owns 79,469 shares of the asset manager’s stock worth $8,671,000 after buying an additional 48,438 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Ares Management by 88.7% during the 1st quarter. Wealthfront Advisers LLC now owns 43,582 shares of the asset manager’s stock valued at $4,755,000 after buying an additional 20,490 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Ares Management by 44.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 51,600 shares of the asset manager’s stock valued at $5,630,000 after acquiring an additional 15,900 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

About Ares Management

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.