Ares Management (NYSE:ARES) Price Target Increased to $175.00 by Analysts at TD Cowen

Ares Management (NYSE:ARES) had its price target raised by TD Cowen from $162.00 to $175.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Other equities analysts also recently issued reports about the company. Redburn Atlantic began coverage on Ares Management in a research report on Tuesday, August 27th. They issued a neutral rating and a $140.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Ares Management from $156.00 to $172.00 and gave the company an equal weight rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Ares Management from $134.00 to $133.00 and set a hold rating on the stock in a research report on Thursday, August 15th. UBS Group lowered their price objective on Ares Management from $160.00 to $158.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Ares Management from $141.00 to $143.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. Six 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, the stock presently has an average rating of Moderate Buy and a consensus target price of $155.82.

Ares Management Stock Performance

NYSE:ARES opened at $161.95 on Wednesday. The stock has a 50-day simple moving average of $148.14 and a two-hundred day simple moving average of $141.80. Ares Management has a 52-week low of $96.00 and a 52-week high of $162.37. 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 firm has a market capitalization of $50.17 billion, a PE ratio of 72.62, a P/E/G ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The business had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. Analysts forecast that Ares Management will post 4.16 EPS for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.30%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the sale, the insider now directly owns 446,702 shares in the company, valued at $63,485,288.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Bennett Rosenthal sold 75,000 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00. Following the transaction, the insider now directly owns 446,702 shares in the company, valued at approximately $63,485,288.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 624,316 shares of company stock worth $90,919,400 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARES. Compass Wealth Management LLC bought a new position in Ares Management in the first quarter worth approximately $28,000. Riverview Trust Co bought a new position in Ares Management in the first quarter worth approximately $29,000. West Oak Capital LLC grew its stake in Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. J.Safra Asset Management Corp grew its stake in Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after purchasing an additional 244 shares in the last quarter. Finally, Key Financial Inc bought a new position in Ares Management in the second quarter worth approximately $53,000. Institutional investors own 50.03% of the company’s stock.

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.