Ares Management (NYSE:ARES) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Ares Management (NYSE:ARES) had its price target boosted by Royal Bank of Canada from $170.00 to $185.00 in a research report released on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the asset manager’s stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley increased their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Barclays raised their price target on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company upped their price objective on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday. TD Cowen raised their price objective on Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their target price on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.00.

Ares Management Stock Performance

Ares Management stock opened at $168.26 on Monday. The firm’s 50 day simple moving average is $157.52 and its 200 day simple moving average is $146.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. Ares Management has a 1-year low of $101.44 and a 1-year high of $175.74. The firm has a market capitalization of $52.66 billion, a PE ratio of 77.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20.

Ares Management (NYSE:ARES) last issued its quarterly earnings data 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 the consensus estimate of $833.58 million. During the same quarter last year, the business posted $0.83 earnings per share. As a group, analysts expect that Ares Management will post 4.1 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Insider Activity at Ares Management

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares in the company, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David B. Kaplan sold 19,262 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $146.74, for a total value of $2,826,505.88. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $11,928,054.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares in the company, valued at $64,276,239.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 622,640 shares of company stock worth $91,378,848 in the last three months. 41.89% of the stock is owned by insiders.

Institutional Trading of Ares Management

Several institutional investors and hedge funds have recently bought and sold shares of ARES. J.Safra Asset Management Corp boosted its holdings in shares of Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after buying an additional 244 shares in the last quarter. Eastern Bank purchased a new stake in Ares Management in the third quarter worth about $39,000. West Oak Capital LLC increased its stake in shares of Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Key Financial Inc purchased a new position in shares of Ares Management during the second quarter valued at approximately $53,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Ares Management in the 1st quarter worth approximately $54,000. 50.03% of the stock is currently owned by hedge funds and other 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.