Ares Management (NYSE:ARES – Free Report) had its price objective upped by Barclays from $146.00 to $157.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.
A number of other brokerages have also weighed in on ARES. Morgan Stanley raised their price target on shares of Ares Management from $109.00 to $118.00 and gave the company an equal weight rating in a research note on Wednesday, January 24th. Royal Bank of Canada raised their price target on shares of Ares Management from $135.00 to $145.00 and gave the company an outperform rating in a research note on Monday. Jefferies Financial Group lowered shares of Ares Management from a buy rating to a hold rating and set a $122.00 price target on the stock. in a research note on Tuesday, January 9th. Wells Fargo & Company raised their price target on shares of Ares Management from $112.00 to $126.00 and gave the company an equal weight rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Ares Management from $119.00 to $141.00 and gave the company an overweight rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $121.25.
Ares Management Trading Up 0.3 %
Ares Management (NYSE:ARES – Get Free Report) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $862.71 million. Ares Management had a net margin of 13.06% and a return on equity of 21.58%. During the same period in the prior year, the company posted $1.21 EPS. As a group, equities analysts forecast that Ares Management will post 4.65 EPS for the current fiscal year.
Ares Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.93 per share. The ex-dividend date is Thursday, March 14th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Ares Management’s previous quarterly dividend of $0.77. Ares Management’s dividend payout ratio (DPR) is currently 128.87%.
Insider Transactions at Ares Management
In other news, CEO Michael J. Arougheti sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.17, for a total transaction of $15,775,500.00. Following the completion of the sale, the chief executive officer now owns 825,000 shares in the company, valued at approximately $86,765,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 47.34% of the company’s stock.
Institutional Trading of Ares Management
Several institutional investors have recently added to or reduced their stakes in ARES. Legacy Financial Group LLC acquired a new stake in Ares Management in the 3rd quarter valued at approximately $27,000. Hollencrest Capital Management acquired a new stake in Ares Management in the 3rd quarter valued at approximately $27,000. Rise Advisors LLC increased its holdings in Ares Management by 73.9% in the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 102 shares during the last quarter. Harbour Investments Inc. increased its holdings in Ares Management by 210.5% in the 1st quarter. Harbour Investments Inc. now owns 354 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 240 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Ares Management by 300.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 50.03% 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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