ValuEngine cut shares of Ares Management (NYSE:ARES) from a strong-buy rating to a buy rating in a report published on Monday.
ARES has been the subject of a number of other reports. Zacks Investment Research cut Ares Management from a hold rating to a sell rating in a research report on Monday, March 5th. Credit Suisse Group restated an outperform rating and issued a $33.00 price objective (up from $25.00) on shares of Ares Management in a research report on Wednesday, January 10th. They noted that the move was a valuation call. Morgan Stanley restated an equal weight rating and issued a $24.00 price objective (up from $20.00) on shares of Ares Management in a research report on Thursday, March 1st. Keefe, Bruyette & Woods restated a buy rating and issued a $24.00 price objective on shares of Ares Management in a research report on Thursday, January 11th. Finally, Royal Bank of Canada set a $26.00 price objective on Ares Management and gave the company a buy rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $25.50.
Shares of ARES stock opened at $21.55 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $1,820.69, a P/E ratio of 11.40, a P/E/G ratio of 1.35 and a beta of 1.30. Ares Management has a twelve month low of $17.25 and a twelve month high of $25.95.
The firm also recently disclosed a dividend, which will be paid on Monday, April 30th. Stockholders of record on Monday, April 16th will be given a $0.093 dividend. The ex-dividend date of this dividend is Friday, April 13th. Ares Management’s dividend payout ratio (DPR) is presently 82.90%.
Institutional investors and hedge funds have recently modified their holdings of the stock. PM CAPITAL Ltd increased its position in shares of Ares Management by 95.8% during the fourth quarter. PM CAPITAL Ltd now owns 820,159 shares of the asset manager’s stock worth $16,403,000 after purchasing an additional 401,265 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Ares Management during the third quarter worth approximately $278,000. American Century Companies Inc. increased its position in shares of Ares Management by 0.8% during the fourth quarter. American Century Companies Inc. now owns 1,218,527 shares of the asset manager’s stock worth $24,371,000 after purchasing an additional 9,989 shares in the last quarter. Royce & Associates LP increased its position in shares of Ares Management by 0.4% during the third quarter. Royce & Associates LP now owns 3,778,587 shares of the asset manager’s stock worth $70,471,000 after purchasing an additional 16,811 shares in the last quarter. Finally, EJF Capital LLC increased its position in shares of Ares Management by 17.2% during the third quarter. EJF Capital LLC now owns 1,086,804 shares of the asset manager’s stock worth $20,269,000 after purchasing an additional 159,544 shares in the last quarter. Hedge funds and other institutional investors own 17.09% of the company’s stock.
Ares Management Company Profile
Ares Management, L.P. operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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