Ares Management (NYSE:ARES) Price Target Raised to $160.00 at The Goldman Sachs Group

Ares Management (NYSE:ARES) had its price objective raised by The Goldman Sachs Group from $145.00 to $160.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

ARES has been the subject of several other reports. UBS Group decreased their price objective on Ares Management from $160.00 to $158.00 and set a buy rating for the company in a report on Wednesday, July 10th. Redburn Atlantic began coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a neutral rating and a $140.00 price target for the company. TD Cowen lifted their price objective on shares of Ares Management from $158.00 to $162.00 and gave the company a buy rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Ares Management from $141.00 to $143.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Ares Management from $134.00 to $133.00 and set a hold rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $142.85.

Ares Management Price Performance

Shares of NYSE:ARES opened at $157.05 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management has a 12 month low of $96.00 and a 12 month high of $159.95. The firm has a market capitalization of $48.66 billion, a P/E ratio of 70.43, a P/E/G ratio of 1.47 and a beta of 1.21. The company’s fifty day moving average price is $146.77 and its 200 day moving average price is $140.69.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts predict that Ares Management will post 4.15 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.37%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insider Buying and Selling

In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at approximately $32,466,929.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael J. Arougheti sold 27,120 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the sale, the chief executive officer now owns 222,880 shares in the company, valued at $32,466,929.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares in the company, valued at $161,475,750. The disclosure for this sale can be found here. Insiders have sold 604,316 shares of company stock valued at $87,718,000 over the last quarter. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ares Management

Several hedge funds and other institutional investors have recently bought and sold shares of ARES. Compass Wealth Management LLC purchased a new position in shares of Ares Management in the first quarter valued at $28,000. Riverview Trust Co acquired a new position in Ares Management during the first quarter worth about $29,000. West Oak Capital LLC lifted its holdings in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. J.Safra Asset Management Corp grew its position in shares of Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 244 shares during the last quarter. Finally, TFO Wealth Partners LLC increased its stake in shares of Ares Management by 29,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock worth $35,000 after purchasing an additional 292 shares in the last quarter. 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.