Ares Management (NYSE:ARES) Price Target Raised to $187.00 at TD Cowen

Ares Management (NYSE:ARES) had its price objective hoisted by TD Cowen from $184.00 to $187.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Other equities research analysts have also recently issued research reports about the company. UBS Group lifted their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Ares Management from $148.00 to $146.00 and set a “hold” rating on the stock in a report on Monday. The Goldman Sachs Group upped their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their target price on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Morgan Stanley lifted their price target on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

Ares Management Trading Down 2.5 %

Shares of NYSE ARES opened at $168.26 on Monday. Ares Management has a 12-month low of $101.44 and a 12-month high of $175.74. The company has a market cap of $52.66 billion, a price-to-earnings ratio of 77.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. 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 stock’s 50 day simple moving average is $157.52 and its 200 day simple moving average is $146.34.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. Equities research analysts expect that Ares Management will post 4.1 EPS for the current year.

Ares Management Announces Dividend

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. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.21%. Ares Management’s dividend payout ratio (DPR) is 171.43%.

Insider Buying and Selling

In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the completion of the transaction, the chairman now directly owns 222,828 shares in the company, valued at $32,459,354.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider David B. Kaplan sold 27,068 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the completion of the sale, the insider now directly owns 222,932 shares in the company, valued at approximately $32,474,504.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 27,172 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the completion of the transaction, the chairman now owns 222,828 shares in the company, valued at approximately $32,459,354.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 622,640 shares of company stock valued at $91,378,848. 41.89% of the stock is owned by corporate insiders.

Institutional Trading of Ares Management

Several hedge funds and other institutional investors have recently modified their holdings of ARES. Fifth Third Wealth Advisors LLC raised its stake in shares of Ares Management by 26.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,880 shares of the asset manager’s stock worth $605,000 after purchasing an additional 823 shares in the last quarter. Wrapmanager Inc. bought a new position in shares of Ares Management during the 3rd quarter valued at $273,000. Pathstone Holdings LLC lifted its stake in shares of Ares Management by 137.0% in the 3rd quarter. Pathstone Holdings LLC now owns 11,987 shares of the asset manager’s stock valued at $1,868,000 after purchasing an additional 6,930 shares during the last quarter. Gilbert & Cook Inc. bought a new stake in shares of Ares Management during the 3rd quarter worth about $329,000. Finally, Paragon Advisors LLC boosted its position in Ares Management by 4.2% during the third quarter. Paragon Advisors LLC now owns 14,229 shares of the asset manager’s stock worth $2,217,000 after purchasing an additional 577 shares during the period. 50.03% of the stock is currently 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.