TD Cowen Has Lowered Expectations for Ares Management (NYSE:ARES) Stock Price

Ares Management (NYSE:ARES - Free Report) had its price target cut by TD Cowen from $216.00 to $161.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the asset manager's stock.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company lowered their target price on Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods raised shares of Ares Management from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $166.00 to $202.00 in a report on Friday, December 20th. Barclays decreased their target price on shares of Ares Management from $217.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. StockNews.com cut Ares Management from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Finally, Bank of America lowered their target price on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Ares Management has an average rating of "Moderate Buy" and an average price target of $165.40.

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Ares Management Price Performance

Shares of ARES traded up $0.62 during mid-day trading on Wednesday, hitting $138.36. 2,297,829 shares of the company were exchanged, compared to its average volume of 1,377,539. Ares Management has a 1-year low of $110.63 and a 1-year high of $200.49. The company has a 50 day moving average of $157.85 and a 200-day moving average of $169.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $43.64 billion, a price-to-earnings ratio of 68.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. Analysts expect that Ares Management will post 5.28 EPS for the current fiscal year.

Ares Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $1.12 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Ares Management's previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a yield of 3.24%. Ares Management's dividend payout ratio (DPR) is currently 183.25%.

Insider Activity

In other Ares Management news, insider R. Kipp Deveer sold 78,933 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $190.02, for a total transaction of $14,998,848.66. Following the completion of the transaction, the insider now owns 1,150,000 shares in the company, valued at approximately $218,523,000. The trade was a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ashish Bhutani purchased 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $141.33 per share, for a total transaction of $1,413,300.00. Following the completion of the acquisition, the director now directly owns 22,905 shares of the company's stock, valued at approximately $3,237,163.65. This trade represents a 77.49 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 329,113 shares of company stock valued at $54,409,915. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ares Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in Ares Management by 67.0% during the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock worth $29,000 after acquiring an additional 65 shares during the period. Transce3nd LLC acquired a new position in shares of Ares Management in the 4th quarter worth approximately $29,000. Johnson Financial Group Inc. raised its holdings in shares of Ares Management by 104.8% in the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Elequin Capital LP acquired a new stake in Ares Management during the fourth quarter valued at approximately $33,000. Finally, Noble Wealth Management PBC bought a new stake in Ares Management during the fourth quarter worth approximately $36,000. 50.03% of the stock is owned by 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.