Ares Management (NYSE:ARES) Receives New Coverage from Analysts at Wells Fargo & Company

Research analysts at Wells Fargo & Company started coverage on shares of Ares Management (NYSE:ARES - Get Free Report) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set an "equal weight" rating and a $156.00 price target on the asset manager's stock. Wells Fargo & Company's price objective points to a potential upside of 8.46% from the stock's current price.

Several other equities research analysts also recently commented on ARES. Deutsche Bank Aktiengesellschaft reduced their target price on Ares Management from $134.00 to $133.00 and set a "hold" rating for the company in a report on Thursday, August 15th. UBS Group reduced their price objective on shares of Ares Management from $160.00 to $158.00 and set a "buy" rating for the company in a research note on Wednesday, July 10th. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a "neutral" rating and a $140.00 target price on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $150.00 price target on shares of Ares Management in a research report on Wednesday, May 22nd. Finally, Barclays lifted their price objective on shares of Ares Management from $151.00 to $155.00 and gave the stock an "overweight" rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Ares Management currently has a consensus rating of "Hold" and a consensus price target of $141.42.

Ares Management Price Performance

ARES stock traded up $2.37 during trading hours on Thursday, hitting $143.83. 717,189 shares of the stock traded hands, compared to its average volume of 1,125,499. The stock has a 50-day simple moving average of $143.23 and a 200 day simple moving average of $138.39. The company has a market cap of $44.56 billion, a P/E ratio of 63.43, a P/E/G ratio of 1.29 and a beta of 1.21. Ares Management has a one year low of $96.00 and a one year high of $155.53. 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 posted its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter last year, the firm posted $0.90 EPS. Equities analysts forecast that Ares Management will post 4.15 earnings per share for the current year.

Insider Activity

In other Ares Management news, Chairman Bennett Rosenthal sold 150,000 shares of the business's stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $19,791,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider David B. Kaplan sold 125,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $16,492,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Bennett Rosenthal sold 150,000 shares of the business's stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The disclosure for this sale can be found here. Insiders sold a total of 779,315 shares of company stock worth $109,487,356 in the last three months. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Ares Management

A number of institutional investors have recently modified their holdings of the company. Dai ichi Life Insurance Company Ltd increased its stake in shares of Ares Management by 49.2% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 19,949 shares of the asset manager's stock worth $2,372,000 after purchasing an additional 6,576 shares during the period. Grayhawk Investment Strategies Inc. acquired a new position in shares of Ares Management during the fourth quarter worth approximately $1,100,000. EP Wealth Advisors LLC boosted its position in shares of Ares Management by 32.5% in the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager's stock valued at $2,705,000 after acquiring an additional 4,996 shares during the period. Norden Group LLC grew its stake in shares of Ares Management by 2,695.3% in the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager's stock worth $9,364,000 after acquiring an additional 67,895 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Ares Management by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager's stock worth $52,831,000 after acquiring an additional 59,668 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.