Ares Management LP (NYSE:ARES) issued its quarterly earnings results on Monday. The asset manager reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.09. Ares Management had a return on equity of 25.44% and a net margin of 7.79%. The company had revenue of $172.05 million for the quarter, compared to analyst estimates of $182.50 million. During the same period in the prior year, the business earned $0.08 earnings per share.
Ares Management (NYSE:ARES) traded down 0.3562% during trading on Friday, hitting $18.4341. The stock had a trading volume of 45,464 shares. The company has a market cap of $3.95 billion, a P/E ratio of 27.4726 and a beta of 1.18. The company has a 50 day moving average of $18.98 and a 200-day moving average of $18.58. Ares Management has a 12-month low of $12.08 and a 12-month high of $23.25.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 5th. Stockholders of record on Monday, May 22nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Thursday, May 18th. Ares Management’s dividend payout ratio is currently 94.12%.
A number of brokerages have recently weighed in on ARES. Keefe, Bruyette & Woods upgraded Ares Management from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a research report on Thursday, March 23rd. Goldman Sachs Group Inc started coverage on Ares Management in a research report on Friday, March 10th. They set a “neutral” rating and a $21.00 price objective for the company. Zacks Investment Research cut Ares Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 3rd. SunTrust Banks, Inc. lifted their price objective on Ares Management from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. Finally, Credit Suisse Group AG started coverage on Ares Management in a research report on Wednesday, January 25th. They set a “neutral” rating and a $21.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $20.86.
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A number of institutional investors have recently made changes to their positions in the company. Navellier & Associates Inc acquired a new position in shares of Ares Management during the first quarter worth $299,000. Raiff Partners Inc. purchased a new stake in shares of Ares Management during the fourth quarter worth about $384,000. Lee Capital Management LP purchased a new stake in shares of Ares Management during the first quarter worth about $948,000. Sei Investments Co. boosted its stake in shares of Ares Management by 9.7% in the first quarter. Sei Investments Co. now owns 60,906 shares of the asset manager’s stock worth $1,154,000 after buying an additional 5,366 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Ares Management during the first quarter worth about $1,163,000. 10.38% of the stock is currently owned by hedge funds and other institutional investors.
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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