Ares Management (NYSE:ARES) Price Target Raised to $197.00

Ares Management (NYSE:ARES) had its price objective hoisted by TD Cowen from $175.00 to $197.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the asset manager’s stock.

A number of other equities analysts have also commented on ARES. Royal Bank Of Canada reissued an “outperform” rating and issued a $215.00 price objective on shares of Ares Management in a research note on Monday, September 29th. Cfra Research raised shares of Ares Management to a “moderate buy” rating in a report on Monday, August 4th. Raymond James Financial assumed coverage on shares of Ares Management in a research report on Monday, July 28th. They issued a “market perform” rating for the company. Cowen reiterated a “buy” rating on shares of Ares Management in a research report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a report on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and a consensus target price of $184.79.

Ares Management Price Performance

NYSE:ARES opened at $151.19 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The firm has a market cap of $49.39 billion, a PE ratio of 87.39, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. Ares Management has a 12 month low of $110.63 and a 12 month high of $200.49. The company’s 50-day moving average price is $161.60 and its two-hundred day moving average price is $168.66.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter last year, the business posted $0.55 earnings per share. On average, equities analysts anticipate that Ares Management will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.8438 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a yield of 2.2%. Ares Management’s dividend payout ratio (DPR) is presently 192.27%.

Insider Activity at Ares Management

In other news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 2,590,000 shares of company stock worth $464,430,639. Insiders own 36.86% of the company’s stock.

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Ares Management by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,936,367 shares of the asset manager’s stock worth $3,626,179,000 after buying an additional 1,746,376 shares during the period. JPMorgan Chase & Co. grew its holdings in Ares Management by 0.4% during the first quarter. JPMorgan Chase & Co. now owns 8,308,330 shares of the asset manager’s stock valued at $1,218,084,000 after purchasing an additional 30,451 shares during the period. Principal Financial Group Inc. increased its stake in Ares Management by 2.8% in the third quarter. Principal Financial Group Inc. now owns 3,534,773 shares of the asset manager’s stock valued at $565,180,000 after purchasing an additional 94,825 shares in the last quarter. Geode Capital Management LLC increased its stake in Ares Management by 7.6% in the second quarter. Geode Capital Management LLC now owns 3,454,083 shares of the asset manager’s stock valued at $596,280,000 after purchasing an additional 244,286 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in Ares Management by 10.2% in the third quarter. LRI Investments LLC now owns 2,586,253 shares of the asset manager’s stock worth $413,516,000 after purchasing an additional 238,531 shares during the period. 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.