Ares Management (NYSE:ARES) Raised to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Ares Management (NYSE:ARES) from a market perform rating to an outperform rating in a research note published on Monday morning, Analyst Price Targets reports. They currently have $68.00 target price on the asset manager’s stock, up from their prior target price of $63.00.

ARES has been the topic of several other research reports. Barclays lifted their target price on Ares Management from $58.00 to $62.00 and gave the company an overweight rating in a research note on Monday, April 12th. Zacks Investment Research downgraded Ares Management from a buy rating to a hold rating in a research note on Tuesday, April 20th. Wells Fargo & Company lifted their target price on Ares Management from $68.00 to $71.00 and gave the company an overweight rating in a research note on Monday, April 12th. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $54.00 price objective on shares of Ares Management in a research note on Tuesday, March 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $57.71.

ARES stock opened at $58.53 on Monday. Ares Management has a twelve month low of $36.56 and a twelve month high of $59.52. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.43. The stock has a market cap of $15.34 billion, a PE ratio of 41.81, a P/E/G ratio of 1.27 and a beta of 1.02. The company’s 50-day moving average is $54.76.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, April 29th. The asset manager reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.05). The business had revenue of $411.25 million for the quarter, compared to the consensus estimate of $436.80 million. Ares Management had a net margin of 10.03% and a return on equity of 15.46%. As a group, equities analysts forecast that Ares Management will post 2.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 16th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, June 15th. Ares Management’s dividend payout ratio is currently 101.08%.

In related news, insider R. Kipp Deveer sold 126,787 shares of the business’s stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $54.62, for a total transaction of $6,925,105.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael R. Mcferran sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $55.23, for a total value of $5,523,000.00. The disclosure for this sale can be found here. Insiders own 49.34% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Evoke Wealth LLC purchased a new position in Ares Management during the 1st quarter valued at $26,000. Captrust Financial Advisors purchased a new stake in shares of Ares Management in the 1st quarter worth $33,000. RMR Wealth Builders purchased a new stake in shares of Ares Management in the 4th quarter worth $31,000. Canton Hathaway LLC purchased a new stake in shares of Ares Management in the 1st quarter worth $39,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Ares Management by 174.2% in the 1st quarter. TCTC Holdings LLC now owns 883 shares of the asset manager’s stock worth $49,000 after buying an additional 561 shares during the period. Institutional investors own 43.13% 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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Analyst Recommendations for Ares Management (NYSE:ARES)

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