Ares Management (NYSE:ARES) Given New $170.00 Price Target at Royal Bank of Canada

Ares Management (NYSE:ARES) had its target price raised by Royal Bank of Canada from $150.00 to $170.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

ARES has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on Ares Management from $141.00 to $143.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Redburn Atlantic started coverage on Ares Management in a research report on Tuesday, August 27th. They issued a neutral rating and a $140.00 price objective for the company. TD Cowen raised their target price on shares of Ares Management from $162.00 to $175.00 and gave the stock a buy rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of Ares Management from $156.00 to $172.00 and gave the company an equal weight rating in a report on Wednesday, October 9th. Finally, Morgan Stanley raised their price objective on shares of Ares Management from $136.00 to $162.00 and gave the stock an equal weight rating in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $155.82.

Ares Management Stock Performance

ARES stock opened at $163.30 on Friday. Ares Management has a twelve month low of $96.00 and a twelve month high of $164.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a market cap of $50.59 billion, a P/E ratio of 73.23, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The business’s fifty day moving average is $148.73 and its 200-day moving average is $142.07.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The company had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. During the same period in the prior year, the business posted $0.90 EPS. Equities research analysts forecast that Ares Management will post 4.16 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is 166.82%.

Insider Activity

In related news, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman Bennett Rosenthal sold 75,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction dated 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 transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at $161,475,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 624,316 shares of company stock valued at $90,919,400. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARES. Compass Wealth Management LLC bought a new position in Ares Management in the 1st quarter valued at about $28,000. Riverview Trust Co bought a new position in shares of Ares Management during the first quarter worth approximately $29,000. West Oak Capital LLC lifted its holdings in Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. J.Safra Asset Management Corp boosted its stake in Ares Management by 717.6% in the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 244 shares during the period. Finally, Key Financial Inc acquired a new position in Ares Management in the 2nd quarter valued at $53,000. 50.03% of the stock is owned by institutional investors and hedge funds.

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.