Ares Management (NYSE:ARES) Sets New 52-Week High – Here’s Why

Ares Management Co. (NYSE:ARES)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $180.38 and last traded at $179.05, with a volume of 79819 shares changing hands. The stock had previously closed at $178.83.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARES. Barclays upped their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company raised their target price on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Redburn Atlantic assumed coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price target for the company. UBS Group raised their price objective on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen boosted their target price on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ares Management presently has an average rating of “Moderate Buy” and an average target price of $166.36.

Ares Management Trading Down 2.3 %

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average is $165.56 and its 200 day moving average is $150.13. The firm has a market capitalization of $54.72 billion, a price-to-earnings ratio of 80.54, a P/E/G ratio of 1.92 and a beta of 1.20.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, equities analysts predict 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 will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.13%. Ares Management’s dividend payout ratio (DPR) is 171.43%.

Insider Activity at Ares Management

In other Ares Management news, Chairman Bennett Rosenthal sold 26,579 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the completion of the sale, the chairman now directly owns 75,000 shares in the company, valued at approximately $10,699,500. This trade represents a 26.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the transaction, the insider now directly owns 456,702 shares in the company, valued at $64,276,239.48. This represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 602,357 shares of company stock worth $97,672,269 over the last ninety days. Insiders own 41.89% of the company’s stock.

Institutional Trading of Ares Management

Several hedge funds have recently modified their holdings of ARES. Victory Capital Management Inc. increased its position in Ares Management by 6.5% in the 3rd quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock valued at $10,195,000 after buying an additional 4,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Ares Management by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock valued at $25,674,000 after acquiring an additional 38,047 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ares Management by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock worth $106,436,000 after purchasing an additional 36,476 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Ares Management by 45.9% in the 1st quarter. Cetera Investment Advisers now owns 82,717 shares of the asset manager’s stock worth $11,000,000 after purchasing an additional 26,012 shares in the last quarter. Finally, Retireful LLC acquired a new stake in Ares Management in the 2nd quarter valued at $696,000. Institutional investors 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.