Ares Management (NYSE:ARES) Given New $187.00 Price Target at TD Cowen

Ares Management (NYSE:ARES) had its price objective upped by TD Cowen from $184.00 to $187.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the asset manager’s stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays raised their price objective 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. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price on the stock. Royal Bank of Canada raised their target price on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, UBS Group upped their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.18.

Ares Management Trading Down 1.4 %

Ares Management stock opened at $159.68 on Monday. Ares Management has a 1 year low of $101.44 and a 1 year high of $171.78. The firm’s 50 day moving average price is $156.13 and its two-hundred day moving average price is $145.76. The firm has a market cap of $49.98 billion, a price-to-earnings ratio of 73.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05.

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

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Insider Activity at Ares Management

In related news, Chairman Bennett Rosenthal sold 10,154 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the transaction, the chairman now owns 191,508 shares of the company’s stock, valued at approximately $27,665,245.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael J. Arougheti sold 27,120 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the sale, the chief executive officer now owns 222,880 shares in the company, valued at approximately $32,466,929.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Bennett Rosenthal sold 10,154 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $144.46, for a total value of $1,466,846.84. Following the completion of the transaction, the chairman now directly owns 191,508 shares in the company, valued at $27,665,245.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 622,640 shares of company stock valued at $91,378,848. 41.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ares Management

Large investors have recently added to or reduced their stakes in the stock. Norden Group LLC lifted its position in Ares Management by 47.0% during the 1st quarter. Norden Group LLC now owns 3,702 shares of the asset manager’s stock worth $492,000 after acquiring an additional 1,183 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Ares Management by 6.9% during the 1st quarter. Private Advisor Group LLC now owns 2,618 shares of the asset manager’s stock worth $348,000 after purchasing an additional 170 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ares Management by 41.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,821 shares of the asset manager’s stock valued at $6,033,000 after purchasing an additional 13,482 shares during the period. BNP Paribas Financial Markets boosted its stake in Ares Management by 26.2% during the 1st quarter. BNP Paribas Financial Markets now owns 79,639 shares of the asset manager’s stock valued at $10,590,000 after purchasing an additional 16,554 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Ares Management by 13.8% in the 1st quarter. Nordea Investment Management AB now owns 12,492 shares of the asset manager’s stock valued at $1,666,000 after buying an additional 1,519 shares during the last quarter. Institutional investors 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.