Barclays Raises Ares Management (NYSE:ARES) Price Target to $174.00

Ares Management (NYSE:ARES) had its target price raised by Barclays from $155.00 to $174.00 in a research report report published on Monday, Benzinga reports. Barclays currently has an overweight rating on the asset manager’s stock.

ARES has been the subject of several other reports. The Goldman Sachs Group boosted their target price on Ares Management from $145.00 to $160.00 and gave the company a buy rating in a report on Monday, September 30th. 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 note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ares Management from $134.00 to $133.00 and set a hold rating for the company in a report on Thursday, August 15th. Wells Fargo & Company began coverage on Ares Management in a research report on Thursday, September 12th. They issued an equal weight rating and a $156.00 price target on the stock. Finally, Redburn Atlantic assumed coverage on Ares Management in a research report on Tuesday, August 27th. They set a neutral rating and a $140.00 price objective for the company. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ares Management currently has a consensus rating of Moderate Buy and a consensus price target of $154.00.

Ares Management Trading Down 0.2 %

Shares of NYSE:ARES opened at $157.85 on Monday. Ares Management has a 52 week low of $96.00 and a 52 week high of $161.56. The company’s 50 day moving average is $147.52 and its two-hundred day moving average is $141.43. 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. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last issued its 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 net margin of 12.53% and a return on equity of 20.46%. The business had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. During the same quarter in the prior year, the business posted $0.90 EPS. Equities analysts predict that Ares Management will post 4.15 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.93 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.36%. Ares Management’s payout ratio is 166.82%.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider Ryan Berry sold 20,000 shares of the company’s stock in a transaction dated 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 owns 344,202 shares of the company’s stock, valued at $55,096,414.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the sale, the chief executive officer now owns 222,880 shares of the company’s stock, valued at $32,466,929.60. 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. Also, insider Ryan Berry sold 20,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $160.07, for a total transaction of $3,201,400.00. Following the completion of the transaction, the insider now directly owns 344,202 shares of the company’s stock, valued at $55,096,414.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 624,316 shares of company stock worth $90,919,400. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ares Management

Several hedge funds have recently modified their holdings of ARES. Compass Wealth Management LLC purchased a new position in shares of Ares Management during the first quarter valued at approximately $28,000. Riverview Trust Co purchased a new position in shares of Ares Management during the 1st quarter worth $29,000. West Oak Capital LLC boosted its holdings in shares of Ares Management by 66.7% during 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 during the last quarter. J.Safra Asset Management Corp grew its position in shares of Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 244 shares during the period. Finally, Key Financial Inc acquired a new position in Ares Management in the second quarter valued at $53,000. 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.