Ares Management Co. (NYSE:ARES - Get Free Report) Director Ashish Bhutani purchased 10,000 shares of Ares Management stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $141.33 per share, with a total value of $1,413,300.00. Following the completion of the transaction, the director now owns 22,905 shares of the company's stock, valued at $3,237,163.65. The trade was a 77.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Ares Management Stock Down 4.2 %
Shares of NYSE:ARES opened at $139.77 on Friday. Ares Management Co. has a fifty-two week low of $125.23 and a fifty-two week high of $200.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm's 50-day simple moving average is $179.36 and its 200-day simple moving average is $169.84. The company has a market cap of $44.08 billion, a price-to-earnings ratio of 68.85, a PEG ratio of 1.28 and a beta of 1.23.
Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. As a group, equities research analysts predict that Ares Management Co. will post 5.28 earnings per share for the current year.
Ares Management Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, March 17th. This is a positive change from Ares Management's previous quarterly dividend of $0.93. Ares Management's dividend payout ratio is currently 183.25%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in shares of Ares Management by 67.0% during the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock worth $29,000 after purchasing an additional 65 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at about $29,000. Johnson Financial Group Inc. boosted its holdings in Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after buying an additional 87 shares in the last quarter. Elequin Capital LP acquired a new position in Ares Management during the fourth quarter worth about $33,000. Finally, Noble Wealth Management PBC purchased a new position in Ares Management in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 50.03% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on ARES. JMP Securities reissued a "market perform" rating on shares of Ares Management in a report on Thursday, February 6th. StockNews.com cut Ares Management from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. Wells Fargo & Company lifted their target price on shares of Ares Management from $207.00 to $215.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Barclays decreased their price target on shares of Ares Management from $224.00 to $217.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.17.
Read Our Latest Research Report on ARES
Ares Management Company Profile
(
Get Free Report)
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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