Ares Management (NYSE:ARES) PT Raised to $160.00 at The Goldman Sachs Group

Ares Management (NYSE:ARES) had its target price hoisted by stock analysts at The Goldman Sachs Group from $145.00 to $160.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 2.36% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Barclays increased their price objective on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. UBS Group reduced their target price on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company started coverage on Ares Management in a research note on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price target for the company. Finally, TD Cowen lifted their price objective on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $142.85.

Ares Management Trading Up 0.3 %

Shares of NYSE:ARES opened at $156.31 on Monday. The stock has a 50 day moving average of $146.27 and a 200 day moving average of $140.45. The company has a market cap of $48.43 billion, a PE ratio of 70.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. Ares Management has a 12-month low of $96.00 and a 12-month high of $159.95. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last released its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The company had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. During the same quarter in the previous year, the company earned $0.90 EPS. As a group, equities research analysts expect that Ares Management will post 4.15 EPS for the current year.

Insider Activity at Ares Management

In related news, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the sale, the insider now directly owns 1,075,000 shares in the company, valued at approximately $161,475,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Berry sold 12,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $154.40, for a total value of $1,930,000.00. Following the transaction, the insider now owns 376,702 shares in the company, valued at approximately $58,162,788.80. The disclosure for this sale can be found here. Insiders sold a total of 604,316 shares of company stock worth $87,718,000 in the last quarter. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ares Management

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Grayhawk Investment Strategies Inc. purchased a new position in shares of Ares Management in the 4th quarter valued at $1,100,000. EP Wealth Advisors LLC boosted its holdings in shares of Ares Management by 32.5% in the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after buying an additional 4,996 shares in the last quarter. Norden Group LLC raised its stake in shares of Ares Management by 2,695.3% during the 1st quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock worth $9,364,000 after acquiring an additional 67,895 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Ares Management by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock valued at $52,831,000 after acquiring an additional 59,668 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in Ares Management in the first quarter valued at approximately $3,434,000. 50.03% of the stock is currently owned by institutional investors.

About Ares Management

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.