TD Cowen Increases Ares Management (NYSE:ARES) Price Target to $162.00

Ares Management (NYSE:ARES) had its price target boosted by TD Cowen from $158.00 to $162.00 in a report issued on Monday, Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

ARES has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft lowered Ares Management from a buy rating to a hold rating and dropped their target price for the company from $176.00 to $132.00 in a research report on Thursday, June 13th. UBS Group reduced their target price on Ares Management from $160.00 to $158.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. JMP Securities reissued a market perform rating on shares of Ares Management in a research note on Tuesday, April 9th. Jefferies Financial Group reduced their price target on shares of Ares Management from $131.00 to $127.00 and set a hold rating on the stock in a research note on Thursday, May 9th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $150.00 price target on shares of Ares Management in a research note on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $138.73.

Ares Management Trading Up 2.7 %

ARES opened at $138.96 on Monday. The firm has a market cap of $43.05 billion, a P/E ratio of 62.37, a P/E/G ratio of 1.29 and a beta of 1.22. Ares Management has a 12 month low of $96.00 and a 12 month high of $155.53. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $139.51 and a 200 day moving average of $135.79.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same quarter last year, the business posted $0.90 earnings per share. As a group, research analysts forecast that Ares Management will post 4.23 EPS for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, September 13th. Ares Management’s dividend payout ratio (DPR) is 166.82%.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 157,837 shares of Ares Management stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the completion of the transaction, the chief executive officer now directly owns 92,163 shares in the company, valued at approximately $13,660,399.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 702,930 shares of company stock valued at $97,948,044. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ARES. Compass Wealth Management LLC purchased a new position in shares of Ares Management in the 1st quarter worth approximately $28,000. Riverview Trust Co purchased a new stake in shares of Ares Management during the first quarter worth about $29,000. Hartford Financial Management Inc. grew its stake in shares of Ares Management by 47.4% during the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. West Oak Capital LLC increased its holdings in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new position in shares of Ares Management in the 4th quarter valued at approximately $34,000. Hedge funds and other 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.