Ares Management (NYSE:ARES) Price Target Raised to $150.00

Ares Management (NYSE:ARES - Free Report) had its price objective upped by Deutsche Bank Aktiengesellschaft from $146.00 to $150.00 in a research report report published on Monday,Benzinga reports. They currently have a hold rating on the asset manager's stock.

Several other research firms have also recently commented on ARES. JPMorgan Chase & Co. decreased their price target on shares of Ares Management from $176.00 to $174.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Barclays increased their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Redburn Atlantic assumed coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a "neutral" rating and a $140.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Ares Management from $172.00 to $176.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Ares Management from $145.00 to $160.00 and gave the company a "buy" rating in a report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $166.36.

Ares Management Price Performance

NYSE ARES traded up $1.08 on Monday, reaching $171.46. The company's stock had a trading volume of 1,392,221 shares, compared to its average volume of 1,283,811. The firm has a market cap of $53.67 billion, a PE ratio of 78.98, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The business has a 50-day moving average price of $157.99 and a 200 day moving average price of $146.75. Ares Management has a 52 week low of $101.44 and a 52 week high of $175.74. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same period in the prior year, the firm earned $0.83 earnings per share. Sell-side analysts expect that Ares Management will post 4.07 EPS for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.17%. Ares Management's payout ratio is 171.43%.

Insider Buying and Selling

In related news, insider Ryan Berry sold 10,000 shares of the firm'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 sale, the insider now directly owns 446,702 shares in the company, valued at $63,485,288.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Ryan Berry sold 10,000 shares of the firm'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 transaction, the insider now owns 446,702 shares of the company's stock, valued at approximately $63,485,288.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 75,000 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 640,969 shares of company stock worth $94,589,722 over the last ninety days. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. bought a new position in shares of Ares Management in the 3rd quarter valued at about $1,390,000. Overbrook Management Corp grew its position in shares of Ares Management by 42.2% in the 3rd quarter. Overbrook Management Corp now owns 133,995 shares of the asset manager's stock valued at $20,882,000 after acquiring an additional 39,754 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Ares Management by 2.1% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,872 shares of the asset manager's stock valued at $915,000 after acquiring an additional 122 shares during the period. Payden & Rygel grew its position in shares of Ares Management by 51.0% in the 3rd quarter. Payden & Rygel now owns 129,900 shares of the asset manager's stock valued at $20,244,000 after acquiring an additional 43,900 shares during the period. Finally, Hilton Capital Management LLC grew its position in shares of Ares Management by 0.9% in the 3rd quarter. Hilton Capital Management LLC now owns 88,686 shares of the asset manager's stock valued at $13,821,000 after acquiring an additional 760 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.