Ares Management Corporation (NYSE:ARES) Receives $182.73 Consensus Price Target from Brokerages

Ares Management Corporation (NYSE:ARES) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $180.8125.

ARES has been the topic of several analyst reports. BMO Capital Markets initiated coverage on Ares Management in a report on Friday. They set a “market perform” rating and a $156.00 target price on the stock. JMP Securities upped their price objective on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods raised their price objective on shares of Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Wells Fargo & Company raised their target price on Ares Management from $189.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Raymond James Financial assumed coverage on shares of Ares Management in a research report on Monday, July 28th. They issued a “market perform” rating on the stock.

Insider Activity at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,590,000 shares of company stock worth $464,430,639 over the last 90 days. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in shares of Ares Management in the first quarter worth about $28,000. Elevation Point Wealth Partners LLC bought a new stake in Ares Management during the 2nd quarter valued at $35,000. Financial Network Wealth Advisors LLC purchased a new position in shares of Ares Management in the 1st quarter valued at $31,000. Ameritas Advisory Services LLC bought a new stake in Ares Management during the second quarter valued at about $43,000. Finally, Rakuten Securities Inc. raised its holdings in Ares Management by 3,262.5% in the first quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager’s stock worth $39,000 after purchasing an additional 261 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 1.1%

Ares Management stock opened at $152.31 on Friday. The stock has a market cap of $49.76 billion, a P/E ratio of 88.04, a P/E/G ratio of 1.20 and a beta of 1.43. Ares Management has a 12 month low of $110.63 and a 12 month high of $200.49. The company’s fifty day simple moving average is $179.18 and its 200-day simple moving average is $167.50. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64.

Ares Management (NYSE:ARES) last released its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. As a group, sell-side analysts forecast that Ares Management will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, September 16th. Ares Management’s payout ratio is 258.96%.

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.