JPMorgan Chase & Co. Has Lowered Expectations for Ares Management (NYSE:ARES) Stock Price

Ares Management (NYSE:ARES) had its price target reduced by analysts at JPMorgan Chase & Co. from $176.00 to $174.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.88% from the stock’s previous close.

A number of other research analysts have also commented on ARES. UBS Group increased their price objective on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays raised their price target on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, October 7th. TD Cowen boosted their price objective on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada raised their target price on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley boosted their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and an average target price of $166.00.

Ares Management Stock Performance

Ares Management stock opened at $172.49 on Tuesday. The stock has a 50-day simple moving average of $157.04 and a 200 day simple moving average of $146.19. The stock has a market capitalization of $53.99 billion, a price-to-earnings ratio of 79.49, a P/E/G ratio of 1.56 and a beta of 1.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Ares Management has a 12-month low of $101.44 and a 12-month high of $175.74.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, research analysts anticipate that Ares Management will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Ryan Berry sold 10,000 shares of Ares Management stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the transaction, the insider now owns 446,702 shares in the company, valued at $63,485,288.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ares Management news, Chairman Bennett Rosenthal sold 26,579 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the completion of the transaction, the chairman now owns 75,000 shares in the company, valued at approximately $10,699,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan Berry sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the sale, the insider now owns 446,702 shares in the company, valued at approximately $63,485,288.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 622,640 shares of company stock valued at $91,378,848. 41.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Ares Management by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock worth $2,207,381,000 after acquiring an additional 206,996 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 worth $674,183,000 after purchasing an additional 1,867,933 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Ares Management by 31.3% during the third quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock worth $444,103,000 after purchasing an additional 678,549 shares during the last quarter. LRI Investments LLC grew its position in Ares Management by 49.4% in the second quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after purchasing an additional 933,664 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Ares Management by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock valued at $308,754,000 after buying an additional 453,657 shares during the last quarter. 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.