Ares Management (NYSE:ARES) Price Target Raised to $155.00 at Barclays

Ares Management (NYSE:ARES) had its price objective raised by Barclays from $151.00 to $155.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft lowered Ares Management from a buy rating to a hold rating and cut their price objective for the stock from $176.00 to $132.00 in a research note on Thursday, June 13th. Royal Bank of Canada reiterated an outperform rating and set a $150.00 price objective on shares of Ares Management in a research note on Wednesday, May 22nd. UBS Group cut their price objective on Ares Management from $160.00 to $158.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group cut their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on Ares Management from $141.00 to $143.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $138.73.

Ares Management Price Performance

Shares of Ares Management stock traded up $2.02 on Monday, hitting $135.75. The company’s stock had a trading volume of 1,443,568 shares, compared to its average volume of 1,165,656. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. Ares Management has a 1 year low of $96.00 and a 1 year high of $155.53. The firm has a fifty day moving average price of $139.82 and a 200-day moving average price of $135.66. The company has a market capitalization of $42.06 billion, a price-to-earnings ratio of 60.58, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.

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

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, September 13th. Ares Management’s payout ratio is currently 166.82%.

Insider Activity

In related news, Director Judy D. Olian sold 3,417 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $134.00, for a total value of $457,878.00. Following the transaction, the director now owns 27,312 shares of the company’s stock, valued at $3,659,808. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Bennett Rosenthal sold 100,000 shares of Ares Management stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $140.41, for a total transaction of $14,041,000.00. Following the completion of the sale, the chairman now directly owns 150,000 shares in the company, valued at approximately $21,061,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Judy D. Olian sold 3,417 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $134.00, for a total value of $457,878.00. Following the sale, the director now owns 27,312 shares of the company’s stock, valued at $3,659,808. The disclosure for this sale can be found here. Over the last three months, insiders have sold 702,930 shares of company stock worth $97,948,044. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Ares Management

Several large investors have recently made changes to their positions in the company. Curated Wealth Partners LLC boosted its holdings in Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after buying an additional 3,321,434 shares in the last quarter. LRI Investments LLC bought a new stake in Ares Management during the first quarter worth approximately $264,729,000. Norges Bank bought a new stake in Ares Management during the fourth quarter worth approximately $205,499,000. M&G Plc boosted its holdings in Ares Management by 711.1% during the second quarter. M&G Plc now owns 1,015,009 shares of the asset manager’s stock worth $134,996,000 after buying an additional 889,872 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Ares Management by 216.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,253,644 shares of the asset manager’s stock worth $149,083,000 after purchasing an additional 857,245 shares during the period. Institutional investors and hedge funds 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.