Ares Management (NYSE:ARES) Sees Large Volume Increase Following Analyst Upgrade

Shares of Ares Management Co. (NYSE:ARES - Get Free Report) saw unusually-strong trading volume on Tuesday after Barclays raised their price target on the stock from $155.00 to $174.00. Barclays currently has an overweight rating on the stock. Approximately 2,875,429 shares traded hands during trading, an increase of 158% from the previous session's volume of 1,115,388 shares.The stock last traded at $153.88 and had previously closed at $160.56.

Several other analysts also recently weighed in on the company. TD Cowen boosted their price target on Ares Management from $158.00 to $162.00 and gave the company a "buy" rating in a research note on Monday, August 5th. UBS Group dropped their price target on Ares Management from $160.00 to $158.00 and set a "buy" rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group boosted their price objective on Ares Management from $145.00 to $160.00 and gave the company a "buy" rating in a report on Monday, September 30th. Redburn Atlantic began coverage on Ares Management in a report on Tuesday, August 27th. They issued a "neutral" rating and a $140.00 price objective for the company. Finally, Wells Fargo & Company began coverage on Ares Management in a report on Thursday, September 12th. They issued an "equal weight" rating and a $156.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $147.36.

Insider Transactions at Ares Management

In other news, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the sale, the chief executive officer now owns 222,880 shares of the company's stock, valued at approximately $32,466,929.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider R. Kipp Deveer sold 41,676 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the sale, the insider now owns 1,075,000 shares of the company's stock, valued at $161,475,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Arougheti sold 27,120 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at approximately $32,466,929.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 604,316 shares of company stock worth $87,718,000. 1.20% of the stock is currently owned by 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. Compass Wealth Management LLC acquired a new stake in shares of Ares Management in the 1st quarter valued at about $28,000. Riverview Trust Co purchased a new position in shares of Ares Management during the first quarter worth approximately $29,000. West Oak Capital LLC increased its holdings in shares of Ares Management by 66.7% in the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager's stock valued at $33,000 after acquiring an additional 100 shares during the period. J.Safra Asset Management Corp raised its position in Ares Management by 717.6% in the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager's stock valued at $37,000 after purchasing an additional 244 shares during the last quarter. Finally, Key Financial Inc acquired a new stake in Ares Management during the 2nd quarter worth $53,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Stock Performance

The stock has a market cap of $47.86 billion, a price-to-earnings ratio of 70.22, a PEG ratio of 1.47 and a beta of 1.22. The stock's 50 day moving average is $147.04 and its two-hundred day moving average is $141.01. 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 results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to analysts' expectations 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 in the prior year, the business earned $0.90 EPS. Analysts anticipate that Ares Management Co. will post 4.15 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.41%. Ares Management's payout ratio is currently 166.82%.

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.

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