Wells Fargo & Company Issues Pessimistic Forecast for Ares Management (NYSE:ARES) Stock Price

Ares Management (NYSE:ARES - Get Free Report) had its target price decreased by equities researchers at Wells Fargo & Company from $187.00 to $156.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Wells Fargo & Company's target price points to a potential upside of 13.13% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods raised shares of Ares Management from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. StockNews.com cut Ares Management from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. Barclays decreased their target price on Ares Management from $217.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Citizens Jmp upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ares Management has an average rating of "Moderate Buy" and a consensus price target of $166.07.

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Ares Management Stock Up 1.6 %

Shares of NYSE ARES traded up $2.12 during midday trading on Tuesday, reaching $137.89. 3,184,457 shares of the company's stock were exchanged, compared to its average volume of 1,373,858. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management has a 52-week low of $110.63 and a 52-week high of $200.49. The business's fifty day moving average price is $157.85 and its two-hundred day moving average price is $168.97. The stock has a market capitalization of $43.49 billion, a PE ratio of 67.93, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (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%. Analysts forecast that Ares Management will post 5.28 EPS for the current year.

Insider Buying and Selling

In other Ares Management news, Chairman Bennett Rosenthal sold 69,809 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $161.01, for a total value of $11,239,947.09. Following the sale, the chairman now directly owns 30,191 shares in the company, valued at approximately $4,861,052.91. The trade was a 69.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 110,845 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,400,000 shares of the company's stock, valued at $214,438,000. The trade was a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,113 shares of company stock valued at $54,409,915 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Ares Management

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its stake in shares of Ares Management by 67.0% during the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock worth $29,000 after acquiring an additional 65 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Ares Management in the 4th quarter valued at $29,000. Johnson Financial Group Inc. increased its stake in 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 4th quarter worth about $33,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Ares Management in the fourth quarter worth about $36,000. 50.03% of the stock is currently 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.