The Goldman Sachs Group Raises Ares Management (NYSE:ARES) Price Target to $160.00

Ares Management (NYSE:ARES) had its price target raised by The Goldman Sachs Group from $145.00 to $160.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company initiated coverage on shares of Ares Management in a research note on Thursday, September 12th. They set an equal weight rating and a $156.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of Ares Management from $141.00 to $143.00 and gave the company an overweight rating in a report on Tuesday, July 30th. UBS Group lowered 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. Redburn Atlantic initiated coverage on Ares Management in a report on Tuesday, August 27th. They issued a neutral rating and a $140.00 price target for the company. Finally, TD Cowen boosted 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $142.85.

Ares Management Price Performance

NYSE:ARES opened at $157.05 on Monday. The stock has a market capitalization of $48.66 billion, a PE ratio of 70.43, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. Ares Management has a 52 week low of $96.00 and a 52 week high of $159.95. 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 stock’s 50-day moving average price is $146.77 and its 200-day moving average price is $140.69.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period last year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that Ares Management will post 4.15 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.93 per share. The ex-dividend date was Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.37%. Ares Management’s dividend payout ratio is presently 166.82%.

Insider Activity

In related news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Bennett Rosenthal sold 27,172 shares of Ares Management stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,958,145.24. Following the completion of the transaction, the chairman now owns 222,828 shares in the company, valued at approximately $32,459,354.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the sale, the insider now owns 1,075,000 shares in the company, valued at $161,475,750. The disclosure for this sale can be found here. Over the last quarter, insiders sold 604,316 shares of company stock valued at $87,718,000. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARES. Curated Wealth Partners LLC raised its holdings in shares of Ares Management by 199.7% in the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after purchasing an additional 3,321,434 shares in the last quarter. LRI Investments LLC purchased a new position in Ares Management in the first quarter valued at $264,729,000. Massachusetts Financial Services Co. MA raised its stake in 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 buying an additional 1,867,933 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in Ares Management during the 2nd quarter worth about $209,884,000. Finally, Millennium Management LLC boosted its position in shares of Ares Management by 722.6% during the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after acquiring an additional 1,526,856 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

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.