Ares Management Co. (NYSE:ARES – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $185.19 and last traded at $184.53, with a volume of 378573 shares. The stock had previously closed at $179.17.
Analyst Ratings Changes
A number of research analysts recently weighed in on ARES shares. Keefe, Bruyette & Woods raised shares of Ares Management from a “market perform” rating to an “outperform” rating and raised their price target for the company from $166.00 to $202.00 in a research report on Friday, December 20th. UBS Group increased their price objective on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group increased their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com lowered Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.92.
Read Our Latest Research Report on ARES
Ares Management Trading Up 2.0 %
Ares Management (NYSE:ARES – Get Free Report) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, equities research analysts expect that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.
Ares Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.93 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 1.94%. Ares Management’s dividend payout ratio (DPR) is 171.43%.
Insider Buying and Selling at Ares Management
In other Ares Management news, insider Ryan Berry sold 14,357 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $180.16, for a total value of $2,586,557.12. Following the completion of the transaction, the insider now directly owns 233,214 shares of the company’s stock, valued at $42,015,834.24. This trade represents a 5.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David B. Kaplan sold 19,775 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $167.45, for a total transaction of $3,311,323.75. Following the transaction, the insider now owns 230,225 shares of the company’s stock, valued at $38,551,176.25. This trade represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 574,167 shares of company stock valued at $99,996,647 in the last quarter. 41.89% of the stock is currently owned by corporate insiders.
Institutional Trading of Ares Management
Several institutional investors and hedge funds have recently modified their holdings of ARES. Victory Capital Management Inc. grew its holdings in shares of Ares Management by 6.5% during the third quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock worth $10,195,000 after purchasing an additional 4,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ares Management by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock valued at $106,436,000 after purchasing an additional 36,476 shares in the last quarter. Toronto Dominion Bank lifted its position in Ares Management by 31.2% during the third quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager’s stock valued at $3,545,000 after purchasing an additional 5,404 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ares Management by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock worth $1,284,773,000 after buying an additional 679,462 shares in the last quarter. Finally, Caldwell Investment Management Ltd. grew its stake in Ares Management by 134.1% in the 4th quarter. Caldwell Investment Management Ltd. now owns 10,300 shares of the asset manager’s stock worth $1,842,000 after buying an additional 5,900 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.
Ares Management Company Profile
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.
See Also
- Five stocks we like better than Ares Management
- Consumer Discretionary Stocks Explained
- AI Demand Sparks Opportunities for These 3 Nuclear Energy Leaders
- Why Are These Companies Considered Blue Chips?
- TSMC: Long-Term Outlook Still Strong as Geopolitical Risk Rises
- What Does Downgrade Mean in Investing?
- Uber’s NVIDIA Deal and Buybacks Signal Major Upside
Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.