Ares Management (NYSE:ARES) Reaches New 52-Week High at $155.65

Ares Management Co. (NYSE:ARES - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $155.65 and last traded at $155.06, with a volume of 368043 shares changing hands. The stock had previously closed at $152.80.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays boosted their price target on shares of Ares Management from $151.00 to $155.00 and gave the stock an "overweight" rating in a research note on Monday, August 5th. TD Cowen lifted their target price on shares of Ares Management from $158.00 to $162.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Redburn Atlantic initiated coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a "neutral" rating and a $140.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Ares Management from $134.00 to $133.00 and set a "hold" rating on the stock in a report on Thursday, August 15th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $150.00 price objective on shares of Ares Management in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Ares Management currently has an average rating of "Hold" and an average price target of $141.42.

Ares Management Stock Performance

The company has a 50 day moving average of $144.15 and a two-hundred day moving average of $138.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $47.20 billion, a PE ratio of 68.52, a PEG ratio of 1.33 and a beta of 1.21.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The business had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts predict that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.44%. Ares Management's payout ratio is presently 166.82%.

Insider Buying and Selling at Ares Management

In related news, insider David B. Kaplan sold 125,000 shares of the firm's stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $16,492,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Bennett Rosenthal sold 150,000 shares of the business's stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David B. Kaplan sold 125,000 shares of the business's stock in a transaction on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $16,492,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 866,816 shares of company stock worth $122,071,500. Insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dai ichi Life Insurance Company Ltd raised its position in Ares Management by 49.2% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 19,949 shares of the asset manager's stock valued at $2,372,000 after purchasing an additional 6,576 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in Ares Management during the 4th quarter valued at $1,100,000. EP Wealth Advisors LLC boosted its stake in Ares Management by 32.5% during the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager's stock worth $2,705,000 after buying an additional 4,996 shares during the period. Norden Group LLC increased its position in Ares Management by 2,695.3% during the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager's stock valued at $9,364,000 after acquiring an additional 67,895 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Ares Management by 17.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager's stock valued at $52,831,000 after acquiring an additional 59,668 shares during the period. 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.

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