Ares Management (NYSE:ARES) Price Target Cut to $174.00 by Analysts at JPMorgan Chase & Co.

Ares Management (NYSE:ARES) had its price objective trimmed by JPMorgan Chase & Co. from $176.00 to $174.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the asset manager’s stock.

Other research analysts have also issued reports about the company. UBS Group increased their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday. Redburn Atlantic initiated coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Morgan Stanley lifted their price target on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Ares Management from $148.00 to $146.00 and set a “hold” rating on the stock in a report on Monday. Six equities research 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.com, Ares Management presently has an average rating of “Moderate Buy” and an average price target of $166.00.

Ares Management Stock Up 3.0 %

Shares of NYSE:ARES opened at $164.53 on Tuesday. Ares Management has a 52-week low of $101.44 and a 52-week high of $171.78. The stock has a market cap of $51.50 billion, a P/E ratio of 75.82, a PEG ratio of 1.56 and a beta of 1.20. The business has a fifty day moving average of $156.49 and a two-hundred day moving average of $146.00. 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 (NYSE:ARES) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same period last year, the business earned $0.83 earnings per share. On average, research analysts expect that Ares Management will post 4.11 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.26%. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Insider Buying and Selling

In related news, insider Ryan Berry sold 40,000 shares of Ares Management stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $167.99, for a total value of $6,719,600.00. Following the completion of the transaction, the insider now owns 304,202 shares in the company, valued at $51,102,893.98. The trade was 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 this hyperlink. In related news, Chairman Bennett Rosenthal sold 26,579 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $142.66, for a total value of $3,791,760.14. Following the completion of the transaction, the chairman now directly owns 75,000 shares of the company’s stock, valued at $10,699,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan Berry sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the sale, the insider now directly owns 304,202 shares in the company, valued at approximately $51,102,893.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 622,640 shares of company stock valued at $91,378,848 in the last three months. 41.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Ares Management by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock valued at $2,207,381,000 after acquiring an additional 206,996 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after purchasing an additional 1,867,933 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Ares Management by 31.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock valued at $444,103,000 after purchasing an additional 678,549 shares during the period. LRI Investments LLC grew its stake in Ares Management by 49.4% during the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock worth $376,191,000 after buying an additional 933,664 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Ares Management by 24.4% during the second quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock worth $308,754,000 after buying an additional 453,657 shares during the period. Institutional investors and hedge funds 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.