Ares Management (NYSE:ARES) Price Target Raised to $172.00 at Wells Fargo & Company

Ares Management (NYSE:ARES) had its target price lifted by investment analysts at Wells Fargo & Company from $156.00 to $172.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.76% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. TD Cowen lifted their target price on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Barclays lifted their price objective on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Redburn Atlantic initiated coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $148.82.

Ares Management Price Performance

Shares of ARES stock traded up $1.91 during trading hours on Wednesday, hitting $155.29. 891,893 shares of the company’s stock were exchanged, compared to its average volume of 1,126,302. Ares Management has a 52 week low of $96.00 and a 52 week high of $161.56. The stock has a market cap of $48.11 billion, a price-to-earnings ratio of 69.64, a price-to-earnings-growth ratio of 1.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50-day moving average is $147.42 and its 200-day moving average is $141.31.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping 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 firm had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, research analysts forecast that Ares Management will post 4.15 EPS for the current year.

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 222,880 shares in the company, valued at approximately $32,466,929.60. 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 is accessible through the SEC website. In related news, insider Ryan Berry sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $160.07, for a total value of $3,201,400.00. Following the completion of the transaction, the insider now directly owns 344,202 shares in the company, valued at approximately $55,096,414.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 27,120 shares of the 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 sale, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at approximately $32,466,929.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 624,316 shares of company stock worth $90,919,400. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARES. Curated Wealth Partners LLC raised its holdings in shares of 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 acquiring an additional 3,321,434 shares during the period. LRI Investments LLC acquired a new stake in shares of Ares Management in the 1st quarter valued at about $264,729,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ares Management by 58.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after purchasing an additional 1,867,933 shares in the last quarter. Lone Pine Capital LLC bought a new stake in shares of Ares Management in the second quarter valued at about $209,884,000. Finally, Millennium Management LLC boosted its position in shares of Ares Management by 722.6% during the second quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after buying an additional 1,526,856 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.