Ares Management (NYSE:ARES) Given New $185.00 Price Target at Royal Bank of Canada

Ares Management (NYSE:ARES) had its price objective increased by Royal Bank of Canada from $170.00 to $185.00 in a research report sent to investors on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the asset manager’s stock.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective 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. The Goldman Sachs Group raised their target price on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Wells Fargo & Company upped their price target on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $166.00.

Ares Management Stock Performance

Shares of Ares Management stock opened at $168.26 on Monday. The business has a 50-day moving average price of $157.52 and a two-hundred day moving average price of $146.34. Ares Management has a 1-year low of $101.44 and a 1-year high of $175.74. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a market cap of $52.66 billion, a P/E ratio of 77.54, a PEG ratio of 1.54 and a beta of 1.20.

Ares Management (NYSE:ARES) last released its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter last year, the firm posted $0.83 earnings per share. As a group, analysts anticipate that Ares Management will post 4.1 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

Insider Buying and Selling at Ares Management

In other news, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the sale, the chief executive officer now owns 222,880 shares in the company, valued at $32,466,929.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Michael J. Arougheti sold 27,120 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the transaction, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at $32,466,929.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 10,223 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $144.47, for a total value of $1,476,916.81. Following the sale, the chief executive officer now directly owns 191,546 shares of the company’s stock, valued at $27,672,650.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 622,640 shares of company stock worth $91,378,848. 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 made changes to their positions in the stock. EP Wealth Advisors LLC boosted 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 acquiring an additional 4,996 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Ares Management by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock valued at $25,674,000 after purchasing an additional 38,047 shares during the period. Forsta AP Fonden increased its position in Ares Management by 20.4% in the first quarter. Forsta AP Fonden now owns 39,000 shares of the asset manager’s stock worth $5,186,000 after buying an additional 6,600 shares during the last quarter. Headlands Technologies LLC raised its stake in shares of Ares Management by 9,510.9% in the first quarter. Headlands Technologies LLC now owns 5,286 shares of the asset manager’s stock valued at $703,000 after buying an additional 5,231 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Ares Management during the 1st quarter valued at $968,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

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.