Ares Management (NYSE:ARES) Reaches New 52-Week High at $159.95

Ares Management Co. (NYSE:ARES - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $159.95 and last traded at $158.15, with a volume of 9211 shares. The stock had previously closed at $158.05.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ARES shares. Redburn Atlantic started coverage on Ares Management in a research note on Tuesday, August 27th. They set a "neutral" rating and a $140.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ares Management from $134.00 to $133.00 and set a "hold" rating for the company in a research note on Thursday, August 15th. Barclays increased their price target on shares of Ares Management from $151.00 to $155.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Ares Management from $141.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Finally, TD Cowen lifted their price target on Ares Management from $158.00 to $162.00 and gave the company a "buy" rating in a research note on Monday, August 5th. One equities research 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $141.42.

Ares Management Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $145.69 and a two-hundred day moving average price of $139.75. The company has a market capitalization of $48.35 billion, a price-to-earnings ratio of 69.88, a PEG ratio of 1.47 and a beta of 1.21.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analysts' expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period last year, the company earned $0.90 EPS. As a group, analysts forecast that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.93 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a yield of 2.38%. Ares Management's dividend payout ratio (DPR) is presently 166.82%.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider David B. Kaplan sold 27,068 shares of Ares Management stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,942,995.56. Following the transaction, the insider now owns 222,932 shares in the company, valued at $32,474,504.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bennett Rosenthal sold 75,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $143.05, for a total value of $10,728,750.00. The disclosure for this sale can be found here. Insiders have sold 604,316 shares of company stock worth $87,718,000 over the last quarter. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Ares Management

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Compass Wealth Management LLC acquired a new stake in shares of Ares Management in the first quarter valued at about $28,000. Riverview Trust Co acquired a new position in shares of Ares Management during the first quarter worth $29,000. West Oak Capital LLC boosted its stake in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager's stock valued at $33,000 after purchasing an additional 100 shares during the period. J.Safra Asset Management Corp grew its holdings in Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager's stock valued at $37,000 after purchasing an additional 244 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its stake in Ares Management by 29,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager's stock worth $35,000 after buying an additional 292 shares during the period. Institutional investors and hedge funds 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.