Ares Management L.P. (ARES) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Ares Management L.P. (NYSE:ARES) from a sell rating to a hold rating in a report issued on Wednesday.

Several other research analysts also recently commented on ARES. TheStreet downgraded shares of Ares Management L.P. from a b- rating to a c rating in a research note on Monday, June 5th. Royal Bank Of Canada started coverage on shares of Ares Management L.P. in a research note on Thursday, June 29th. They issued an outperform rating and a $21.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed an outperform rating on shares of Ares Management L.P. in a research note on Tuesday, July 4th. 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 research note on Tuesday, July 11th. Finally, ValuEngine downgraded shares of Ares Management L.P. from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $21.29.

Ares Management L.P. (NYSE:ARES) last posted its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. The company had revenue of $554.00 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 firm’s revenue was up 49.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a dividend of $0.31 per share. This is an increase from Ares Management L.P.’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, August 16th. This represents a $1.24 dividend on an annualized basis and a yield of 6.76%. Ares Management L.P.’s dividend payout ratio (DPR) is 169.86%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARES. Wells Fargo & Company MN increased its position in Ares Management L.P. by 733.8% during the 1st quarter. Wells Fargo & Company MN now owns 553,854 shares of the asset manager’s stock valued at $10,496,000 after purchasing an additional 487,425 shares during the period. Sei Investments Co. increased its position in Ares Management L.P. by 9.7% during the 1st quarter. Sei Investments Co. now owns 60,906 shares of the asset manager’s stock valued at $1,154,000 after purchasing an additional 5,366 shares during the period. JPMorgan Chase & Co. increased its position in Ares Management L.P. by 66,328.9% during the 1st quarter. JPMorgan Chase & Co. now owns 479,617 shares of the asset manager’s stock valued at $9,088,000 after purchasing an additional 478,895 shares during the period. SG Americas Securities LLC purchased a new position in Ares Management L.P. during the 1st quarter valued at about $2,841,000. Finally, Neuberger Berman Group LLC purchased a new position in Ares Management L.P. during the 1st quarter valued at about $3,790,000. 14.68% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Ares Management L.P. (NYSE:ARES)

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