Ares Management (NYSE:ARES) Price Target Cut to $174.00 by Analysts at JPMorgan Chase & Co.

Ares Management (NYSE:ARES) had its target price decreased by JPMorgan Chase & Co. from $176.00 to $174.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the asset manager’s stock.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Ares Management from $148.00 to $146.00 and set a “hold” rating for the company in a report on Monday. Royal Bank of Canada raised their price target on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday. UBS Group upped their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley raised their target price on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, TD Cowen upped their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

Ares Management Stock Up 3.0 %

Ares Management stock opened at $164.53 on Tuesday. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 75.82, a PEG ratio of 1.56 and a beta of 1.20. 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 stock has a 50 day moving average of $156.49 and a two-hundred day moving average of $146.00. Ares Management has a twelve month low of $101.44 and a twelve month high of $171.78.

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

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Insider Transactions at Ares Management

In related news, insider Ryan Berry sold 40,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the sale, the insider now owns 304,202 shares of the company’s stock, valued at $51,102,893.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan Berry sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the transaction, the insider now owns 304,202 shares of the company’s stock, valued at approximately $51,102,893.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The disclosure for this sale can be found here. Insiders sold a total of 622,640 shares of company stock valued at $91,378,848 over the last three months. 41.89% of the stock is currently owned by insiders.

Institutional Trading of Ares Management

Hedge funds have recently added to or reduced their stakes in the business. Curated Wealth Partners LLC boosted its position in shares of Ares Management by 199.7% in the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after acquiring an additional 3,321,434 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Ares Management in the 1st quarter valued at $264,729,000. Massachusetts Financial Services Co. MA grew its stake in shares of Ares Management by 58.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after buying an additional 1,867,933 shares during the period. Lone Pine Capital LLC purchased a new stake in shares of Ares Management during the 2nd quarter valued at $209,884,000. Finally, Millennium Management LLC increased its holdings in shares of Ares Management by 722.6% during the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after buying an additional 1,526,856 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

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.