Other hedge funds also recently bought and sold shares of the company. Compass Wealth Management LLC bought a new position in shares of Ares Management in the first quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of Ares Management in the first quarter valued at about $29,000. Hartford Financial Management Inc. raised its stake in shares of Ares Management by 47.4% during the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. West Oak Capital LLC grew its stake in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in shares of Ares Management in the 4th quarter worth approximately $34,000. Institutional investors own 50.03% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on ARES. Royal Bank of Canada reissued an “outperform” rating and set a $150.00 price objective on shares of Ares Management in a research report on Wednesday, May 22nd. Jefferies Financial Group reduced their target price on Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. TD Cowen lowered their target price on Ares Management from $168.00 to $158.00 and set a “buy” rating for the company in a research note on Monday, July 8th. UBS Group reduced their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Ares Management from a “buy” rating to a “hold” rating and lowered their price objective for the company from $176.00 to $132.00 in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $134.33.
Check Out Our Latest Stock Analysis on Ares Management
Ares Management Stock Performance
Shares of Ares Management stock opened at $147.30 on Friday. The stock has a market cap of $45.64 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 1.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $150.12. The firm’s 50-day moving average is $139.58 and its 200 day moving average is $133.27.
Ares Management (NYSE:ARES – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). The firm had revenue of $707.36 million for the quarter, compared to the consensus estimate of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period last year, the business earned $0.71 EPS. Sell-side analysts anticipate that Ares Management Co. will post 4.24 EPS for the current fiscal year.
Ares Management Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.93 per share. The ex-dividend date was Friday, June 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.53%. Ares Management’s payout ratio is 166.82%.
Insider Transactions at Ares Management
In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $148.22, for a total value of $23,394,600.14. Following the transaction, the chief executive officer now directly owns 92,163 shares in the company, valued at $13,660,399.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of…
Read More: BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes Position in Ares Management Co.