Ares Management (NYSE:ARES) Price Target Raised to $195.00 at UBS Group

Ares Management (NYSE:ARES) had its price target hoisted by UBS Group from $158.00 to $195.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Several other brokerages have also issued reports on ARES. The Goldman Sachs Group boosted their price target on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Barclays raised their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. TD Cowen upped their price target on Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada boosted their target price on shares of Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.18.

Ares Management Stock Down 0.8 %

ARES stock opened at $169.50 on Tuesday. Ares Management has a twelve month low of $96.00 and a twelve month high of $171.78. 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 $52.51 billion, a PE ratio of 76.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The business’s 50-day simple moving average is $153.55 and its 200 day simple moving average is $144.12.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter last year, the firm earned $0.90 EPS. On average, research analysts anticipate that Ares Management will post 4.16 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 annualized dividend and a yield of 2.19%. Ares Management’s dividend payout ratio (DPR) is 166.82%.

Insider Buying and Selling at Ares Management

In other news, Chairman Bennett Rosenthal sold 75,000 shares of the company’s stock in a transaction that occurred 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 document filed with the SEC, which is available through this hyperlink. In other news, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 10,223 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $144.47, for a total value of $1,476,916.81. Following the completion of the transaction, the chief executive officer now owns 191,546 shares in the company, valued at approximately $27,672,650.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 622,640 shares of company stock worth $91,378,848. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC grew its holdings in Ares Management by 32.5% during the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock worth $2,705,000 after acquiring an additional 4,996 shares during the period. Norden Group LLC boosted its position in shares of Ares Management by 2,695.3% in the 1st quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock worth $9,364,000 after purchasing an additional 67,895 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 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 worth $52,831,000 after purchasing an additional 59,668 shares during the period. FORA Capital LLC bought a new stake in Ares Management in the first quarter valued at about $3,434,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Ares Management by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock valued at $25,674,000 after buying an additional 38,047 shares during the period. 50.03% of the stock is 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.