The Goldman Sachs Group Increases Ares Management (NYSE:ARES) Price Target to $160.00

Ares Management (NYSE:ARES) had its target price hoisted by The Goldman Sachs Group from $145.00 to $160.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Other analysts also recently issued research reports about the company. UBS Group decreased their target price on Ares Management from $160.00 to $158.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company initiated coverage on Ares Management in a research report on Thursday, September 12th. They issued an equal weight rating and a $156.00 price objective for the company. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a neutral rating and a $140.00 target price on the stock. TD Cowen increased their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a buy rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ares Management from $141.00 to $143.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $142.85.

Ares Management Trading Up 1.1 %

NYSE:ARES opened at $158.05 on Monday. The company’s 50 day moving average is $146.54 and its 200-day moving average is $140.57. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Ares Management has a 12 month low of $96.00 and a 12 month high of $159.95. The firm has a market cap of $48.97 billion, a price-to-earnings ratio of 70.87, a P/E/G ratio of 1.47 and a beta of 1.21.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The firm had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. During the same quarter last year, the firm posted $0.90 EPS. Equities analysts anticipate that Ares Management will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.35%. Ares Management’s payout ratio is presently 166.82%.

Insider Buying and Selling

In other Ares Management news, insider Ryan Berry sold 12,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $154.40, for a total value of $1,930,000.00. Following the sale, the insider now directly owns 376,702 shares in the company, valued at $58,162,788.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ares Management news, insider Ryan Berry sold 12,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $154.40, for a total transaction of $1,930,000.00. Following the sale, the insider now directly owns 376,702 shares of the company’s stock, valued at $58,162,788.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The disclosure for this sale can be found here. Insiders sold 604,316 shares of company stock worth $87,718,000 in the last 90 days. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ares Management

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Compass Wealth Management LLC bought a new position in shares of Ares Management in the first quarter valued at about $28,000. Riverview Trust Co bought a new position in shares of Ares Management in the first quarter worth about $29,000. West Oak Capital LLC lifted its position in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. TFO Wealth Partners LLC grew its stake in shares of Ares Management by 29,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 292 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its holdings in shares of Ares Management by 717.6% in the first 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 in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

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.