TD Cowen Cuts Ares Management (NYSE:ARES) Price Target to $158.00

Ares Management (NYSE:ARESFree Report) had its price objective lowered by TD Cowen from $168.00 to $158.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

A number of other research firms have also recently weighed in on ARES. Deutsche Bank Aktiengesellschaft cut Ares Management from a buy rating to a hold rating and lowered their price target for the stock from $176.00 to $132.00 in a report on Thursday, June 13th. Royal Bank of Canada reissued an outperform rating and set a $150.00 target price on shares of Ares Management in a research note on Wednesday, May 22nd. Jefferies Financial Group decreased their target price on Ares Management from $131.00 to $127.00 and set a hold rating on the stock in a research note on Thursday, May 9th. Barclays decreased their target price on Ares Management from $153.00 to $150.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. Finally, JMP Securities reissued a market perform rating on shares of Ares Management in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $131.62.

View Our Latest Stock Analysis on Ares Management

Ares Management Stock Performance

NYSE ARES opened at $138.77 on Monday. The stock has a market cap of $42.99 billion, a PE ratio of 62.23, a P/E/G ratio of 1.19 and a beta of 1.22. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management has a twelve month low of $93.69 and a twelve month high of $150.12. The stock has a fifty day simple moving average of $138.52 and a 200-day simple moving average of $131.95.

Ares Management (NYSE:ARESGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The business had revenue of $707.36 million for the quarter, compared to analysts’ expectations of $814.88 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same quarter in the prior year, the company posted $0.71 earnings per share. Equities analysts anticipate that Ares Management will post 4.27 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, June 14th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insider Transactions at Ares Management

In other news, Chairman Antony P. Ressler sold 114,492 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $131.97, for a total transaction of $15,109,509.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Judy D. Olian sold 3,417 shares of Ares Management stock in a transaction on Friday, June 7th. The stock was sold at an average price of $134.00, for a total transaction of $457,878.00. Following the completion of the transaction, the director now directly owns 27,312 shares of the company’s stock, valued at $3,659,808. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Antony P. Ressler sold 114,492 shares of Ares Management stock in a transaction on Friday, April 12th. The stock was sold at an average price of $131.97, for a total value of $15,109,509.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 969,315 shares of company stock valued at $132,164,160. Corporate insiders own 41.89% of the company’s stock.

Hedge Funds Weigh In On Ares Management

Hedge funds and other institutional investors have recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new position in shares of Ares Management in the first quarter worth $28,000. Rise Advisors LLC raised its holdings in shares of Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after acquiring an additional 102 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Ares Management in the first quarter worth $29,000. Hartford Financial Management Inc. raised its holdings in shares of Ares Management by 47.4% in the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Finally, West Oak Capital LLC raised its holdings in shares of 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 acquiring an additional 100 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

About Ares Management

(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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