Ares Management (NYSE:ARES) Given New $207.00 Price Target at Wells Fargo & Company

Ares Management (NYSE:ARES) had its price target cut by stock analysts at Wells Fargo & Company from $212.00 to $207.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.96% from the stock’s current price.

A number of other equities research analysts have also commented on the company. UBS Group upped their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays upped their target price on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada raised their price target on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Morgan Stanley upped their price objective on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and an average price target of $171.92.

Ares Management Stock Up 0.8 %

ARES stock opened at $176.98 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management has a 52 week low of $112.83 and a 52 week high of $185.06. The company has a market cap of $55.40 billion, a PE ratio of 81.56, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18. The business has a 50-day simple moving average of $175.84 and a 200 day simple moving average of $159.09.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. The company 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 19.89%. During the same period in the previous year, the firm posted $0.83 EPS. Sell-side analysts anticipate that Ares Management will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling at Ares Management

In related news, insider David B. Kaplan sold 19,775 shares of Ares Management stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $167.45, for a total value of $3,311,323.75. Following the completion of the transaction, the insider now directly owns 230,225 shares in the company, valued at approximately $38,551,176.25. The trade was a 7.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan Berry sold 14,357 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total value of $2,586,557.12. Following the sale, the insider now owns 233,214 shares in the company, valued at approximately $42,015,834.24. This represents a 5.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 614,167 shares of company stock worth $106,716,247 over the last three months. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ares Management

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in shares of Ares Management by 67.0% during the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 65 shares during the last quarter. GAMMA Investing LLC raised its stake in Ares Management by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 79 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Ares Management during the third quarter valued at approximately $36,000. Eastern Bank purchased a new position in Ares Management in the 3rd quarter worth approximately $39,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Ares Management by 21.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after buying an additional 97 shares during the last quarter. Hedge funds and other 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.