Ares Management (NYSE:ARES) Price Target Raised to $187.00

Ares Management (NYSE:ARES) had its price target boosted by TD Cowen from $184.00 to $187.00 in a research note released on Monday morning, Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

Other research analysts have also recently issued reports about the company. Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. Royal Bank of Canada raised their price objective on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price target on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Ares Management from $148.00 to $146.00 and set a “hold” rating on the stock in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and an average price target of $163.18.

Ares Management Stock Down 1.4 %

Shares of ARES opened at $159.68 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50-day simple moving average of $156.13 and a 200-day simple moving average of $145.76. Ares Management has a 52 week low of $101.44 and a 52 week high of $171.78. The firm has a market capitalization of $49.98 billion, a P/E ratio of 73.59, a P/E/G ratio of 1.56 and a beta of 1.20.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter in the prior year, the firm posted $0.83 EPS. On average, equities research analysts expect that Ares Management will post 4.11 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.33%. Ares Management’s payout ratio is 171.43%.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 27,172 shares of Ares Management stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,958,145.24. Following the completion of the transaction, the chairman now directly owns 222,828 shares of the company’s stock, valued at $32,459,354.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 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 $3,958,145.24. Following the completion of the sale, the chairman now owns 222,828 shares in the company, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction that occurred 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 $32,466,929.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 622,640 shares of company stock worth $91,378,848. Insiders own 41.89% of the company’s stock.

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Norden Group LLC boosted its holdings in Ares Management by 47.0% in the first quarter. Norden Group LLC now owns 3,702 shares of the asset manager’s stock valued at $492,000 after acquiring an additional 1,183 shares during the last quarter. Private Advisor Group LLC raised its holdings in Ares Management by 6.9% during the 1st quarter. Private Advisor Group LLC now owns 2,618 shares of the asset manager’s stock worth $348,000 after purchasing an additional 170 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Ares Management by 41.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,821 shares of the asset manager’s stock valued at $6,033,000 after purchasing an additional 13,482 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Ares Management by 26.2% in the 1st quarter. BNP Paribas Financial Markets now owns 79,639 shares of the asset manager’s stock valued at $10,590,000 after purchasing an additional 16,554 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Ares Management by 13.8% during the 1st quarter. Nordea Investment Management AB now owns 12,492 shares of the asset manager’s stock worth $1,666,000 after buying an additional 1,519 shares during the period. Institutional investors own 50.03% 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.