Ares Management Corp (NYSE:ARES) insider R. Kipp Deveer sold 5,166 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $26.12, for a total transaction of $134,935.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Ares Management stock opened at $25.85 on Thursday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.38 and a beta of 1.44. Ares Management Corp has a 1-year low of $16.18 and a 1-year high of $26.79.
Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $224.66 million for the quarter, compared to the consensus estimate of $228.42 million. Ares Management had a return on equity of 25.86% and a net margin of 5.22%. During the same period in the prior year, the company posted $0.39 earnings per share. As a group, equities analysts anticipate that Ares Management Corp will post 1.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 4.95%. Ares Management’s dividend payout ratio (DPR) is currently 90.14%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ffcm LLC grew its stake in shares of Ares Management by 50.0% during the fourth quarter. Ffcm LLC now owns 1,476 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 492 shares during the last quarter. Pearl River Capital LLC bought a new stake in shares of Ares Management during the fourth quarter valued at approximately $40,000. Cordasco Financial Network bought a new stake in shares of Ares Management during the first quarter valued at approximately $70,000. Kwmg LLC bought a new stake in shares of Ares Management during the fourth quarter valued at approximately $75,000. Finally, Kore Private Wealth LLC bought a new stake in shares of Ares Management during the first quarter valued at approximately $116,000. 60.03% of the stock is currently owned by institutional investors and hedge funds.
ARES has been the topic of several research analyst reports. Zacks Investment Research raised shares of Ares Management from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. ValuEngine raised shares of Ares Management from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $25.00.
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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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