Brokerages Set Ares Management Co. (NYSE:ARES) Price Target at $138.00

Shares of Ares Management Co. (NYSE:ARES) have been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $138.73.

ARES has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $150.00 price target on shares of Ares Management in a report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their target price on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. TD Cowen increased their price target on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut Ares Management from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $176.00 to $132.00 in a research note on Thursday, June 13th. Finally, Jefferies Financial Group lowered their target price on Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research note on Thursday, May 9th.

Ares Management Stock Up 2.7 %

Shares of ARES opened at $138.96 on Friday. The firm has a market cap of $43.05 billion, a PE ratio of 62.37, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average is $139.51 and its two-hundred day moving average is $135.79. Ares Management has a fifty-two week low of $96.00 and a fifty-two week high of $155.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same quarter in the previous year, the business earned $0.90 earnings per share. Analysts forecast that Ares Management will post 4.23 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, September 13th. Ares Management’s payout ratio is 166.82%.

Insider Transactions at Ares Management

In related news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the sale, the insider now directly owns 1,075,000 shares of the company’s stock, valued at $161,475,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael J. Arougheti sold 157,837 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 in the company, valued at approximately $13,660,399.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the sale, the insider now directly owns 1,075,000 shares in the company, valued at $161,475,750. The disclosure for this sale can be found here. Over the last quarter, insiders sold 702,930 shares of company stock valued at $97,948,044. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Ares Management

Several institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in Ares Management by 2.4% during the fourth quarter. Arizona State Retirement System now owns 44,859 shares of the asset manager’s stock worth $5,335,000 after acquiring an additional 1,036 shares during the period. Allworth Financial LP lifted its holdings in shares of Ares Management by 187.9% in the 4th quarter. Allworth Financial LP now owns 475 shares of the asset manager’s stock worth $56,000 after purchasing an additional 310 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in Ares Management by 404.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 38,815 shares of the asset manager’s stock valued at $4,616,000 after purchasing an additional 31,124 shares during the period. Tritonpoint Wealth LLC bought a new position in Ares Management during the 4th quarter worth $706,000. Finally, DekaBank Deutsche Girozentrale increased its position in Ares Management by 70.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 41,746 shares of the asset manager’s stock worth $4,987,000 after buying an additional 17,293 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Company Profile

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.