Ares Management Corp (NYSE:ARES) Given Average Recommendation of “Buy” by Brokerages

Ares Management Corp (NYSE:ARES) has received a consensus rating of “Buy” from the nine research firms that are currently covering the firm, reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $24.60.

Separately, Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Monday, April 29th.

Shares of NYSE:ARES traded down $0.17 on Friday, hitting $28.14. The company had a trading volume of 360,249 shares, compared to its average volume of 1,482,137. Ares Management has a 1-year low of $16.18 and a 1-year high of $28.62. The company has a market cap of $2.92 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. The stock’s 50 day moving average is $26.83. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Ares Management had a net margin of 5.22% and a return on equity of 25.86%. The company had revenue of $224.66 million during the quarter, compared to analyst estimates of $228.42 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, equities analysts predict that Ares Management will post 1.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.55%. Ares Management’s payout ratio is presently 90.14%.

In other news, CEO Michael J. Arougheti sold 48,299 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $27.31, for a total value of $1,319,045.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Kipp Deveer sold 5,166 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $26.12, for a total transaction of $134,935.92. The disclosure for this sale can be found here. In the last three months, insiders sold 1,370,709 shares of company stock valued at $37,208,269. 151.62% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC lifted its position in Ares Management by 8.1% during the fourth quarter. Lido Advisors LLC now owns 17,772 shares of the asset manager’s stock worth $315,000 after purchasing an additional 1,326 shares during the period. Two Sigma Advisers LP raised its stake in Ares Management by 13.6% during the fourth quarter. Two Sigma Advisers LP now owns 11,700 shares of the asset manager’s stock worth $208,000 after acquiring an additional 1,400 shares in the last quarter. Raymond James & Associates raised its stake in Ares Management by 4.0% during the fourth quarter. Raymond James & Associates now owns 56,579 shares of the asset manager’s stock worth $1,006,000 after acquiring an additional 2,201 shares in the last quarter. Cordasco Financial Network acquired a new position in Ares Management during the first quarter worth about $70,000. Finally, Stifel Financial Corp raised its stake in Ares Management by 21.5% during the fourth quarter. Stifel Financial Corp now owns 21,163 shares of the asset manager’s stock worth $376,000 after acquiring an additional 3,744 shares in the last quarter. 60.08% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Ares Management (NYSE:ARES)

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