Bank of America Lowers Ares Management (NYSE:ARES) Price Target to $201.00

Ares Management (NYSE:ARES - Get Free Report) had its price target lowered by research analysts at Bank of America from $221.00 to $201.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the asset manager's stock. Bank of America's price objective would indicate a potential upside of 51.78% from the stock's previous close.

Several other analysts have also issued reports on ARES. StockNews.com lowered Ares Management from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on Ares Management from $215.00 to $187.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. The Goldman Sachs Group decreased their target price on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Barclays reduced their price objective on shares of Ares Management from $224.00 to $217.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, JMP Securities restated a "market perform" rating on shares of Ares Management in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Ares Management has a consensus rating of "Moderate Buy" and a consensus target price of $166.07.

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Ares Management Stock Performance

Shares of Ares Management stock traded up $9.22 during trading hours on Friday, reaching $132.43. 1,262,592 shares of the stock traded hands, compared to its average volume of 1,343,285. Ares Management has a one year low of $110.63 and a one year high of $200.49. The firm has a market capitalization of $41.77 billion, a price-to-earnings ratio of 65.24, a P/E/G ratio of 1.28 and a beta of 1.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $162.45 and a 200 day moving average price of $169.54.

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

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 110,845 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the transaction, the chief executive officer now owns 1,400,000 shares in the company, valued at $214,438,000. The trade was a 7.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Kipp Deveer sold 78,933 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 1,150,000 shares of the company's stock, valued at $218,523,000. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,113 shares of company stock valued at $54,409,915 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Ares Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. Versant Capital Management Inc raised its holdings in shares of Ares Management by 67.0% in the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock worth $29,000 after buying an additional 65 shares during the period. Transce3nd LLC purchased a new stake in Ares Management in the fourth quarter worth $29,000. Johnson Financial Group Inc. lifted its position in shares of Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after purchasing an additional 87 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Ares Management during the fourth quarter valued at $33,000. Finally, Point72 DIFC Ltd bought a new position in shares of Ares Management in the third quarter worth about $36,000. 50.03% of the stock is owned by hedge funds and other 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.