Ares Management (NYSE:ARES) Now Covered by Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Ares Management (NYSE:ARES) in a report released on Thursday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $156.00 target price on the asset manager’s stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Ares Management from $141.00 to $143.00 and gave the stock an overweight rating in a research report on Tuesday, July 30th. Redburn Atlantic assumed coverage on Ares Management in a research note on Tuesday, August 27th. They issued a neutral rating and a $140.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price target on Ares Management from $134.00 to $133.00 and set a hold rating on the stock in a research note on Thursday, August 15th. TD Cowen lifted their price objective on Ares Management from $158.00 to $162.00 and gave the stock a buy rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada restated an outperform rating and set a $150.00 target price on shares of Ares Management in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Ares Management presently has a consensus rating of Hold and an average target price of $141.42.

Ares Management Stock Up 2.5 %

ARES opened at $147.40 on Thursday. The firm has a market cap of $46.13 billion, a price-to-earnings ratio of 66.10, a PEG ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50-day simple moving average is $143.52 and its 200-day simple moving average is $138.65. Ares Management has a twelve month low of $96.00 and a twelve month high of $155.53.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter last year, the company posted $0.90 EPS. Equities research analysts anticipate that Ares Management will post 4.15 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Monday, September 16th. Ares Management’s dividend payout ratio is currently 166.82%.

Insiders Place Their Bets

In related news, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the sale, the insider now owns 446,702 shares in the company, valued at approximately $63,485,288.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction on Thursday, August 15th. The shares were 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 of the company’s stock, valued at $32,466,929.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan Berry sold 10,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the completion of the sale, the insider now directly owns 446,702 shares in the company, valued at $63,485,288.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 779,315 shares of company stock worth $109,487,356. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Ares Management

A number of institutional investors have recently modified their holdings of ARES. Compass Wealth Management LLC bought a new stake in Ares Management in the 1st quarter valued at approximately $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management in the first quarter valued at about $29,000. West Oak Capital LLC grew its stake in Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Ares Management by 555.0% during the 1st quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after purchasing an additional 222 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its holdings in shares of Ares Management by 717.6% in 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 during the last quarter. 50.03% of the stock is currently owned by institutional investors.

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.