Ares Management (NYSE:ARES) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Ares Management (NYSE:ARES) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $156.00 target price on the asset manager’s stock.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada restated an outperform rating and set a $150.00 price objective on shares of Ares Management in a report on Wednesday, May 22nd. Barclays boosted their price target on Ares Management from $151.00 to $155.00 and gave the company an overweight rating in a research note on Monday, August 5th. Redburn Atlantic began coverage on Ares Management in a research report on Tuesday, August 27th. They set a neutral rating and a $140.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ares Management from $134.00 to $133.00 and set a hold rating for the company in a research report on Thursday, August 15th. Finally, TD Cowen lifted their price objective on shares of Ares Management from $158.00 to $162.00 and gave the stock a buy rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Ares Management currently has an average rating of Hold and a consensus price target of $141.42.

Ares Management Stock Performance

Shares of NYSE ARES opened at $147.40 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $46.13 billion, a P/E ratio of 66.10, a P/E/G ratio of 1.33 and a beta of 1.21. Ares Management has a 12 month low of $96.00 and a 12 month high of $155.53. The stock has a 50 day moving average of $143.52 and a 200-day moving average of $138.65.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, equities research analysts predict that Ares Management will post 4.15 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio is presently 166.82%.

Insider Activity

In other news, Chairman Bennett Rosenthal sold 150,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $19,791,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Bennett Rosenthal sold 150,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David B. Kaplan sold 125,000 shares of Ares Management stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $16,492,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 779,315 shares of company stock worth $109,487,356. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in Ares Management during the 2nd quarter worth about $923,000. Brown Financial Advisors acquired a new position in Ares Management during the 2nd quarter worth about $691,000. Truist Financial Corp lifted its holdings in Ares Management by 2.0% during the 2nd quarter. Truist Financial Corp now owns 617,846 shares of the asset manager’s stock worth $82,346,000 after buying an additional 12,007 shares during the period. Chase Investment Counsel Corp lifted its holdings in Ares Management by 1.3% during the 2nd quarter. Chase Investment Counsel Corp now owns 33,106 shares of the asset manager’s stock worth $4,412,000 after buying an additional 438 shares during the period. Finally, EP Wealth Advisors LLC lifted its holdings in Ares Management by 13.5% during the 2nd quarter. EP Wealth Advisors LLC now owns 23,094 shares of the asset manager’s stock worth $3,078,000 after buying an additional 2,749 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Company Profile

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.