Ares Management Corporation (NYSE:ARES) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Ares Management Corporation (NYSE:ARES) have received an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $158.4667.

A number of brokerages have recently weighed in on ARES. TD Cowen boosted their price target on Ares Management from $144.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Zacks Research upgraded Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Citigroup reaffirmed an “outperform” rating on shares of Ares Management in a report on Thursday. Oppenheimer reiterated an “outperform” rating and set a $146.00 target price (down from $147.00) on shares of Ares Management in a research note on Monday, May 4th. Finally, Citizens Jmp dropped their target price on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday.

Ares Management Stock Up 0.3%

Shares of ARES traded up $0.41 during midday trading on Friday, reaching $122.07. 1,087,076 shares of the company were exchanged, compared to its average volume of 2,350,252. Ares Management has a 1-year low of $95.80 and a 1-year high of $195.26. The stock has a 50-day moving average price of $123.71 and a 200-day moving average price of $128.71. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The company has a market cap of $40.26 billion, a price-to-earnings ratio of 56.78, a P/E/G ratio of 1.07 and a beta of 1.51.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same quarter last year, the company posted $1.09 earnings per share. Research analysts expect that Ares Management will post 6.03 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 annualized dividend and a yield of 4.4%. Ares Management’s dividend payout ratio (DPR) is currently 251.16%.

Institutional Investors Weigh In On Ares Management

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Ares Management by 20.2% in the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock worth $4,210,530,000 after purchasing an additional 4,373,955 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Ares Management by 26.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after buying an additional 1,187,174 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ares Management by 55.7% in the 4th quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock worth $883,716,000 after buying an additional 1,963,460 shares in the last quarter. Capital International Investors lifted its holdings in shares of Ares Management by 0.3% in the fourth quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock valued at $688,176,000 after buying an additional 14,516 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Ares Management by 4.4% in the first quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager’s stock valued at $437,417,000 after buying an additional 169,598 shares during the period. Institutional investors own 50.03% of the company’s stock.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.