Ares Management Corp (NYSE:ARES) – Jefferies Financial Group cut their Q2 2020 earnings estimates for shares of Ares Management in a report released on Wednesday, July 8th. Jefferies Financial Group analyst G. O’hara now expects that the asset manager will earn $0.41 per share for the quarter, down from their prior estimate of $0.43. Jefferies Financial Group also issued estimates for Ares Management’s FY2020 earnings at $1.71 EPS and FY2021 earnings at $2.18 EPS.

Other equities analysts also recently issued research reports about the stock. Barclays raised their price objective on shares of Ares Management from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. TheStreet downgraded shares of Ares Management from a “b-” rating to a “c” rating in a report on Monday, June 8th. BMO Capital Markets raised shares of Ares Management from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $47.00 in a report on Thursday, May 28th. Keefe, Bruyette & Woods lifted their price target on shares of Ares Management from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, Zacks Investment Research downgraded shares of Ares Management from a “buy” rating to a “hold” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $42.18.

ARES opened at $39.05 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.75. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 102.77, a PEG ratio of 4.57 and a beta of 1.28. The company’s 50 day moving average is $38.59 and its 200 day moving average is $35.45. Ares Management has a 12-month low of $20.20 and a 12-month high of $41.88.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Wednesday, May 6th. The asset manager reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $411.80 million for the quarter, compared to the consensus estimate of $369.82 million. Ares Management had a net margin of 5.60% and a return on equity of 15.52%. During the same quarter last year, the firm posted $0.35 earnings per share.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Monday, June 15th. Ares Management’s dividend payout ratio (DPR) is presently 95.81%.

In related news, insider Bennett Rosenthal sold 58,936 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $34.70, for a total value of $2,045,079.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R. Kipp Deveer sold 81,393 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $40.05, for a total transaction of $3,259,789.65. The disclosure for this sale can be found here. Insiders sold 3,562,488 shares of company stock worth $134,244,860 in the last three months. Insiders own 59.69% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ARES. Sumitomo Mitsui Financial Group Inc. bought a new stake in Ares Management in the first quarter worth $367,434,000. Wellington Management Group LLP increased its position in Ares Management by 122.9% in the first quarter. Wellington Management Group LLP now owns 6,625,147 shares of the asset manager’s stock worth $204,916,000 after purchasing an additional 3,652,486 shares during the last quarter. Invesco Ltd. increased its position in Ares Management by 44.6% during the first quarter. Invesco Ltd. now owns 3,306,512 shares of the asset manager’s stock valued at $102,271,000 after acquiring an additional 1,019,978 shares during the last quarter. Franklin Resources Inc. increased its position in Ares Management by 75.6% during the first quarter. Franklin Resources Inc. now owns 1,575,500 shares of the asset manager’s stock valued at $48,730,000 after acquiring an additional 678,200 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Ares Management by 28.2% during the fourth quarter. Bank of America Corp DE now owns 1,218,076 shares of the asset manager’s stock valued at $43,474,000 after acquiring an additional 267,823 shares during the last quarter. Institutional investors own 71.04% of the company’s stock.

About Ares Management

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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