UBS Group Boosts Ares Management (NYSE:ARES) Price Target to $32.00

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Ares Management (NYSE:ARES) had its price target raised by UBS Group from $28.00 to $32.00 in a research report report published on Thursday, BenzingaRatingsTable reports. The firm currently has a buy rating on the asset manager’s stock.

Separately, Zacks Investment Research downgraded shares of Ares Management from a buy rating to a hold rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Ares Management presently has a consensus rating of Buy and an average target price of $28.29.

Shares of ARES stock opened at $28.72 on Thursday. The firm has a 50-day moving average price of $27.75. The stock has a market capitalization of $2.97 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.47 and a beta of 1.39. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. Ares Management has a one year low of $16.18 and a one year high of $29.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Wednesday, July 31st. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Ares Management had a return on equity of 23.26% and a net margin of 7.77%. The company had revenue of $384.80 million for the quarter, compared to analysts’ expectations of $300.41 million. During the same quarter last year, the business posted $0.34 EPS. The business’s quarterly revenue was up 88.4% on a year-over-year basis. On average, equities research analysts predict that Ares Management will post 1.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.28 dividend on an annualized basis and a yield of 4.46%. Ares Management’s dividend payout ratio (DPR) is presently 90.14%.

In related news, insider R. Kipp Deveer sold 132,577 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $26.08, for a total value of $3,457,608.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 274,712 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $27.67, for a total transaction of $7,601,281.04. The disclosure for this sale can be found here. Insiders have sold 1,370,709 shares of company stock valued at $37,208,269 in the last 90 days. 151.62% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA acquired a new stake in shares of Ares Management during the second quarter worth about $51,000. AGF Investments LLC acquired a new stake in Ares Management in the second quarter worth approximately $53,000. Cordasco Financial Network acquired a new stake in Ares Management in the first quarter worth approximately $70,000. Marshall Wace LLP acquired a new stake in Ares Management in the first quarter worth approximately $145,000. Finally, Advisor Group Inc. lifted its position in Ares Management by 27.0% in the second quarter. Advisor Group Inc. now owns 6,951 shares of the asset manager’s stock worth $182,000 after purchasing an additional 1,477 shares during the period. Institutional investors own 59.60% of the company’s stock.

About Ares Management

Ares Management Corporation 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.

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