Ares Management LP (NYSE:ARES) has received a consensus recommendation of “Hold” from the seven brokerages that are covering the firm. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $17.00.

ARES has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Ares Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Bank of America Corp. cut shares of Ares Management from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th. They noted that the move was a valuation call. TheStreet upgraded shares of Ares Management from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Morgan Stanley set a $15.00 price objective on shares of Ares Management and gave the stock a “hold” rating in a report on Thursday, August 11th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Ares Management in a report on Tuesday.

Ares Management (NYSE:ARES) traded up 0.37% during trading on Tuesday, hitting $19.07. 10,841 shares of the company’s stock traded hands. The company’s 50 day moving average is $17.83 and its 200-day moving average is $15.27. Ares Management has a 12 month low of $10.72 and a 12 month high of $19.46. The stock has a market cap of $4.08 billion, a P/E ratio of 67.86 and a beta of 1.12.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/ares-management-lp-nyseares-receives-average-rating-of-hold-from-brokerages.html

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Ares Management had a net margin of 2.88% and a return on equity of 15.65%. The company had revenue of $369 million for the quarter, compared to analysts’ expectations of $164.13 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. Ares Management’s quarterly revenue was up 53.0% on a year-over-year basis. On average, analysts predict that Ares Management will post $1.20 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 5.89%. The ex-dividend date was Friday, August 19th. This is an increase from Ares Management’s previous quarterly dividend of $0.15. Ares Management’s dividend payout ratio is currently 400.00%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of Ares Management by 34.2% in the first quarter. Goldman Sachs Group Inc. now owns 81,011 shares of the company’s stock valued at $1,248,000 after buying an additional 20,651 shares in the last quarter. Royal Bank of Canada increased its position in shares of Ares Management by 4,694.0% in the first quarter. Royal Bank of Canada now owns 47,940 shares of the company’s stock valued at $738,000 after buying an additional 46,940 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Ares Management by 16.9% in the second quarter. PNC Financial Services Group Inc. now owns 103,673 shares of the company’s stock valued at $1,460,000 after buying an additional 14,999 shares in the last quarter. Raymond James & Associates purchased a new position in shares of Ares Management during the second quarter valued at about $184,000. Finally, Royce & Associates LP increased its position in shares of Ares Management by 1.0% in the second quarter. Royce & Associates LP now owns 3,774,217 shares of the company’s stock valued at $53,179,000 after buying an additional 36,061 shares in the last quarter. Hedge funds and other institutional investors own 10.20% of the company’s stock.

About Ares Management

Ares Management, L.P. is an alternative asset manager. The Company operates through four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. Its Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets and manages various types of investment funds, ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors.

5 Day Chart for NYSE:ARES

Receive News & Ratings for Ares Management LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management LP and related companies with MarketBeat.com's FREE daily email newsletter.