Ares Management LP (NYSE:ARES) has been assigned a consensus rating of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $21.50.
Several equities analysts have commented on ARES shares. BidaskClub upgraded shares of Ares Management from a “hold” rating to a “buy” rating in a research report on Saturday, November 11th. Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday, October 9th. Royal Bank of Canada set a $21.00 target price on shares of Ares Management and gave the company a “buy” rating in a research note on Wednesday, October 18th. TheStreet downgraded shares of Ares Management from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Finally, Oppenheimer initiated coverage on shares of Ares Management in a research note on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price on the stock.
Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its holdings in Ares Management by 1.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 141,707 shares of the asset manager’s stock worth $2,551,000 after acquiring an additional 2,319 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Ares Management by 37.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock worth $261,000 after acquiring an additional 3,982 shares in the last quarter. Royal Bank of Canada grew its holdings in Ares Management by 359.8% during the 2nd quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after acquiring an additional 7,700 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Ares Management by 79.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,827 shares of the asset manager’s stock worth $338,000 after acquiring an additional 8,356 shares in the last quarter. Finally, Commerce Bank bought a new position in Ares Management during the 3rd quarter worth about $205,000. 15.62% of the stock is currently owned by institutional investors.
Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Ares Management had a net margin of 4.98% and a return on equity of 39.54%. The business had revenue of $283.67 million during the quarter, compared to analyst estimates of $286.76 million. During the same quarter last year, the business earned $0.45 earnings per share. Ares Management’s quarterly revenue was down 15.4% compared to the same quarter last year. research analysts anticipate that Ares Management will post 1.8 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 8.65%. The ex-dividend date was Thursday, November 16th. This is an increase from Ares Management’s previous quarterly dividend of $0.31. Ares Management’s dividend payout ratio (DPR) is currently 292.86%.
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About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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