TD Cowen Increases Ares Management (NYSE:ARES) Price Target to $175.00

Ares Management (NYSE:ARES) had its price target upped by equities research analysts at TD Cowen from $162.00 to $175.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target would indicate a potential upside of 10.86% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Barclays lifted their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. UBS Group cut their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Redburn Atlantic started 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average price target of $154.00.

Ares Management Trading Down 0.2 %

Shares of ARES stock opened at $157.85 on Wednesday. Ares Management has a fifty-two week low of $96.00 and a fifty-two week high of $161.56. The stock’s fifty day moving average price is $147.52 and its two-hundred day moving average price is $141.43. 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 market cap of $48.90 billion, a PE ratio of 70.85, a P/E/G ratio of 1.47 and a beta of 1.22.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period last year, the firm posted $0.90 earnings per share. Equities analysts predict that Ares Management will post 4.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan Berry sold 20,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $160.07, for a total value of $3,201,400.00. Following the sale, the insider now directly owns 344,202 shares of the company’s stock, valued at approximately $55,096,414.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares of the company’s stock, valued at $161,475,750. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan Berry sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $160.07, for a total value of $3,201,400.00. Following the completion of the transaction, the insider now directly owns 344,202 shares in the company, valued at approximately $55,096,414.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 624,316 shares of company stock worth $90,919,400. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Ares Management

Large investors have recently modified their holdings of the stock. Grayhawk Investment Strategies Inc. acquired a new position in shares of Ares Management during the 4th quarter valued at $1,100,000. EP Wealth Advisors LLC increased its stake in Ares Management by 32.5% in the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after purchasing an additional 4,996 shares in the last quarter. Norden Group LLC raised its holdings in shares of Ares Management by 2,695.3% during the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after purchasing an additional 67,895 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Ares Management by 17.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after purchasing an additional 59,668 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of Ares Management in the 1st quarter valued at about $3,434,000. 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.