Keefe, Bruyette & Woods Reiterates Outperform Rating for Ares Management LP (ARES)
Ares Management LP (NYSE:ARES)‘s stock had its “outperform” rating reiterated by analysts at Keefe, Bruyette & Woods in a research report issued on Tuesday.
Other equities research analysts have also issued reports about the company. TheStreet upgraded Ares Management from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Morgan Stanley set a $15.00 price target on Ares Management and gave the stock a “hold” rating in a research report on Thursday, August 11th. Zacks Investment Research upgraded Ares Management from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Bank of America Corp. lowered Ares Management from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.30.
Ares Management (NYSE:ARES) opened at 18.42 on Tuesday. Ares Management has a one year low of $10.72 and a one year high of $19.40. The firm has a market capitalization of $3.94 billion, a PE ratio of 65.55 and a beta of 1.12. The company has a 50 day moving average price of $17.93 and a 200-day moving average price of $15.34.
Ares Management (NYSE:ARES) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. Ares Management had a return on equity of 15.65% and a net margin of 2.88%. The company had revenue of $369 million for the quarter, compared to analyst estimates of $164.13 million. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was up 53.0% compared to the same quarter last year. On average, equities analysts predict that Ares Management will post $1.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $0.28 per share. This is an increase from Ares Management’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, August 19th. This represents a $1.12 annualized dividend and a yield of 6.09%. Ares Management’s dividend payout ratio is currently 400.00%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Ares Management by 34.2% in the first quarter. Goldman Sachs Group Inc. now owns 81,011 shares of the company’s stock valued at $1,248,000 after buying an additional 20,651 shares in the last quarter. Royal Bank of Canada increased its position in Ares Management by 4,694.0% in the first quarter. Royal Bank of Canada now owns 47,940 shares of the company’s stock valued at $738,000 after buying an additional 46,940 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Ares Management by 16.9% in the second quarter. PNC Financial Services Group Inc. now owns 103,673 shares of the company’s stock valued at $1,460,000 after buying an additional 14,999 shares in the last quarter. Raymond James & Associates purchased a new position in Ares Management during the second quarter valued at about $184,000. Finally, Royce & Associates LP increased its position in Ares Management by 1.0% in the second quarter. Royce & Associates LP now owns 3,774,217 shares of the company’s stock valued at $53,179,000 after buying an additional 36,061 shares in the last quarter. 10.20% of the stock is currently owned by hedge funds and other institutional investors.
About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company operates through four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. Its Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets and manages various types of investment funds, ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors.
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