BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Ares Management Co. (NYSE:ARES – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,282 shares of the asset manager’s stock, valued at approximately $968,000.
Other hedge funds also recently bought and sold shares of the company. Compass Wealth Management LLC bought a new position in shares of Ares Management in the first quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of Ares Management in the first quarter valued at about $29,000. Hartford Financial Management Inc. raised its stake in shares of Ares Management by 47.4% during the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. West Oak Capital LLC grew 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 worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in shares of Ares Management in the 4th quarter worth approximately $34,000. Institutional investors own 50.03% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on ARES. Royal Bank of Canada reissued an “outperform” rating and set a $150.00 price objective on shares of Ares Management in a research report on Wednesday, May 22nd. Jefferies Financial Group reduced their target price on Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. TD Cowen lowered their target price on Ares Management from $168.00 to $158.00 and set a “buy” rating for the company in a research note on Monday, July 8th. UBS Group reduced their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Ares Management from a “buy” rating to a “hold” rating and lowered their price objective for the company from $176.00 to $132.00 in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $134.33.
Check Out Our Latest Stock Analysis on Ares Management
Ares Management Stock Performance
Shares of Ares Management stock opened at $147.30 on Friday. The stock has a market cap of $45.64 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 1.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $150.12. The firm’s 50-day moving average is $139.58 and its 200 day moving average is $133.27.
Ares Management (NYSE:ARES – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). The firm had revenue of $707.36 million for the quarter, compared to the consensus estimate of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period last year, the business earned $0.71 EPS. Sell-side analysts anticipate that Ares Management Co. will post 4.24 EPS for the current fiscal year.
Ares Management Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.93 per share. The ex-dividend date was Friday, June 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.53%. Ares Management’s payout ratio is 166.82%.
Insider Transactions at Ares Management
In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $148.22, for a total value of $23,394,600.14. Following the transaction, the chief executive officer now directly owns 92,163 shares in the company, valued at $13,660,399.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of…
Read More: BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes Position in Ares Management Co.