Royal Bank Of Canada set a $21.00 target price on Ares Management L.P. (NYSE:ARES) in a report published on Saturday, August 5th. The brokerage currently has a buy rating on the asset manager’s stock.
A number of other equities analysts also recently issued reports on ARES. TheStreet raised shares of Ares Management L.P. from a c rating to a b- rating in a report on Wednesday, April 26th. Credit Suisse Group raised shares of Ares Management L.P. from a neutral rating to an outperform rating in a report on Thursday, May 11th. BidaskClub downgraded shares of Ares Management L.P. from a sell rating to a strong sell rating in a report on Saturday, June 17th. Keefe, Bruyette & Woods reissued an outperform rating on shares of Ares Management L.P. in a report on Tuesday, July 4th. Finally, Zacks Investment Research raised shares of Ares Management L.P. from a hold rating to a buy rating and set a $20.00 price target on the stock in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $21.57.
Ares Management L.P. (NYSE:ARES) traded down 0.28% during mid-day trading on Friday, reaching $17.70. 56,578 shares of the company’s stock traded hands. The stock has a market cap of $3.79 billion, a P/E ratio of 23.69 and a beta of 1.25. Ares Management L.P. has a 12 month low of $14.75 and a 12 month high of $23.25. The company has a 50 day moving average price of $18.24 and a 200-day moving average price of $18.87.
Ares Management L.P. (NYSE:ARES) last posted its quarterly earnings data on Friday, August 4th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.69. The firm had revenue of $554 million for the quarter, compared to the consensus estimate of $442.10 million. Ares Management L.P. had a net margin of 5.86% and a return on equity of 40.94%. The business’s revenue for the quarter was up 49.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. On average, analysts anticipate that Ares Management L.P. will post $1.84 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.31 dividend. This is a boost from Ares Management L.P.’s previous quarterly dividend of $0.13. This represents a $1.24 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date is Wednesday, August 16th. Ares Management L.P.’s payout ratio is currently 169.86%.
A number of large investors have recently made changes to their positions in ARES. Royal Bank of Canada boosted its stake in shares of Ares Management L.P. by 359.8% in the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after buying an additional 7,700 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Ares Management L.P. during the second quarter worth about $212,000. Goldman Sachs Group Inc. boosted its stake in shares of Ares Management L.P. by 37.9% in the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock worth $261,000 after buying an additional 3,982 shares in the last quarter. Balter Liquid Alternatives LLC purchased a new stake in shares of Ares Management L.P. during the second quarter worth about $264,000. Finally, Clinton Group Inc. purchased a new stake in shares of Ares Management L.P. during the second quarter worth about $264,000. Institutional investors and hedge funds own 14.36% of the company’s stock.
About Ares Management L.P.
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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