Ares Management (NYSE:ARES) PT Raised to $171.00 at TD Cowen

Ares Management (NYSE:ARESFree Report) had its price objective raised by TD Cowen from $154.00 to $171.00 in a research note released on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

A number of other research analysts have also issued reports on the company. Barclays reduced their price target on Ares Management from $153.00 to $150.00 and set an overweight rating for the company in a research report on Friday, May 3rd. UBS Group boosted their price target on shares of Ares Management from $156.00 to $160.00 and gave the stock a buy rating in a research report on Friday, April 12th. Wells Fargo & Company increased their price objective on shares of Ares Management from $112.00 to $126.00 and gave the company an equal weight rating in a report on Friday, February 9th. Royal Bank of Canada reissued an outperform rating and set a $150.00 target price on shares of Ares Management in a report on Wednesday. Finally, JMP Securities reaffirmed a market perform rating on shares of Ares Management in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Ares Management currently has a consensus rating of Hold and a consensus target price of $130.15.

View Our Latest Stock Analysis on ARES

Ares Management Stock Performance

ARES stock opened at $146.01 on Wednesday. Ares Management has a 1 year low of $82.89 and a 1 year high of $150.12. The stock has a market capitalization of $45.24 billion, a price-to-earnings ratio of 65.48, a PEG ratio of 1.18 and a beta of 1.17. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average is $136.01 and its two-hundred day moving average is $125.85.

Ares Management (NYSE:ARESGet Free Report) last posted its earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The firm had revenue of $707.36 million for the quarter, compared to analyst estimates of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, research analysts predict that Ares Management will post 4.25 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.93 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.55%. Ares Management’s dividend payout ratio (DPR) is 166.82%.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 175,152 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $133.56, for a total value of $23,393,301.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ares Management news, CEO Michael J. Arougheti sold 74,585 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the completion of the sale, the chief executive officer now directly owns 1,375,000 shares in the company, valued at approximately $182,833,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Antony P. Ressler sold 175,152 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $133.56, for a total transaction of $23,393,301.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,488,844 shares of company stock worth $200,239,222. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Westpac Banking Corp acquired a new position in shares of Ares Management in the fourth quarter worth $2,421,000. Artemis Investment Management LLP raised its stake in shares of Ares Management by 24.5% during the 4th quarter. Artemis Investment Management LLP now owns 149,920 shares of the asset manager’s stock worth $17,829,000 after purchasing an additional 29,457 shares in the last quarter. Triasima Portfolio Management inc. lifted its holdings in shares of Ares Management by 31.4% during the 4th quarter. Triasima Portfolio Management inc. now owns 66,950 shares of the asset manager’s stock valued at $7,962,000 after buying an additional 16,010 shares during the last quarter. Nordea Investment Management AB increased its holdings in Ares Management by 2.0% in the third quarter. Nordea Investment Management AB now owns 10,512 shares of the asset manager’s stock worth $1,109,000 after buying an additional 202 shares during the last quarter. Finally, Genesee Capital Advisors LLC bought a new position in Ares Management during the fourth quarter valued at approximately $1,268,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Company Profile

(Get Free Report)

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.

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