Ares Management (NYSE:ARES) Price Target Increased to $162.00 by Analysts at TD Cowen

Ares Management (NYSE:ARES) had its target price boosted by TD Cowen from $158.00 to $162.00 in a research report released on Monday morning, Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Ares Management from a buy rating to a hold rating and reduced their price target for the stock from $176.00 to $132.00 in a research report on Thursday, June 13th. Jefferies Financial Group reduced their price target on shares of Ares Management from $131.00 to $127.00 and set a hold rating on the stock in a research report on Thursday, May 9th. Barclays boosted their price target on shares of Ares Management from $150.00 to $151.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective 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, JMP Securities reaffirmed a market perform rating on shares of Ares Management in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $138.73.

Ares Management Price Performance

Shares of Ares Management stock traded up $2.02 on Monday, hitting $135.75. 1,443,568 shares of the company traded hands, compared to its average volume of 1,165,656. The stock has a market capitalization of $42.06 billion, a P/E ratio of 60.58, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. Ares Management has a 52 week low of $96.00 and a 52 week high of $155.53. The business has a 50-day simple moving average of $139.82 and a 200 day simple moving average of $135.66.

Ares Management (NYSE:ARES) last released its quarterly earnings data 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 net margin of 12.86% and a return on equity of 21.22%. The firm had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. During the same quarter last year, the business posted $0.90 earnings per share. Research analysts expect that Ares Management will post 4.23 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, September 13th. Ares Management’s dividend payout ratio is currently 166.82%.

Insider Buying and Selling

In related news, CEO Michael J. Arougheti sold 157,837 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $148.22, for a total value of $23,394,600.14. Following the completion of the sale, the chief executive officer now directly owns 92,163 shares of the company’s stock, valued at $13,660,399.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ares Management news, insider David B. Kaplan sold 14,659 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $138.11, for a total value of $2,024,554.49. Following the completion of the transaction, the insider now directly owns 125,000 shares in the company, valued at $17,263,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 157,837 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the completion of the transaction, the chief executive officer now owns 92,163 shares of the company’s stock, valued at $13,660,399.86. The disclosure for this sale can be found here. Insiders sold a total of 702,930 shares of company stock valued at $97,948,044 over the last three months. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ares Management

Several hedge funds have recently modified their holdings of the stock. SVB Wealth LLC increased its holdings in shares of Ares Management by 9.0% during the second quarter. SVB Wealth LLC now owns 55,346 shares of the asset manager’s stock valued at $7,377,000 after acquiring an additional 4,589 shares in the last quarter. EFG Asset Management Americas Corp. increased its holdings in shares of Ares Management by 38.4% during the second quarter. EFG Asset Management Americas Corp. now owns 23,854 shares of the asset manager’s stock valued at $3,179,000 after acquiring an additional 6,620 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of Ares Management by 1.8% during the second quarter. Lake Street Advisors Group LLC now owns 49,811 shares of the asset manager’s stock valued at $6,639,000 after acquiring an additional 861 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Ares Management by 59.3% during the second quarter. Private Advisor Group LLC now owns 4,171 shares of the asset manager’s stock valued at $556,000 after acquiring an additional 1,553 shares in the last quarter. Finally, Blue Barn Wealth LLC increased its holdings in shares of Ares Management by 10.4% during the second quarter. Blue Barn Wealth LLC now owns 1,846 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 174 shares in the last quarter. Institutional investors and hedge funds 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.