Ares Management (NYSE:ARES) PT Lowered to $150.00

Ares Management (NYSE:ARES) had its price target lowered by equities research analysts at Barclays from $153.00 to $150.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Barclays‘s price target indicates a potential upside of 13.71% from the company’s previous close.

A number of other research analysts have also commented on ARES. Wells Fargo & Company boosted their price target on shares of Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. JMP Securities restated a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. Morgan Stanley raised their price target on Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Royal Bank of Canada lifted their price objective on shares of Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, UBS Group upped their target price on Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ares Management has a consensus rating of “Hold” and an average price target of $125.92.

Ares Management Stock Down 2.0 %

ARES stock opened at $131.91 on Friday. The stock has a 50-day simple moving average of $133.10 and a two-hundred day simple moving average of $121.64. Ares Management has a twelve month low of $77.97 and a twelve month high of $139.48. The firm has a market capitalization of $40.84 billion, a PE ratio of 59.15, a PEG ratio of 1.00 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The firm had revenue of $707.36 million during the quarter, compared to the consensus estimate of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.63%. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities analysts predict that Ares Management will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling at Ares Management

In other news, Chairman Antony P. Ressler sold 143,569 shares of Ares Management stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $131.51, for a total value of $18,880,759.19. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Chairman Antony P. Ressler sold 143,569 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $131.51, for a total value of $18,880,759.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Kipp Deveer sold 82,796 shares of Ares Management stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $136.47, for a total transaction of $11,299,170.12. Following the sale, the insider now directly owns 1,245,729 shares in the company, valued at approximately $170,004,636.63. The disclosure for this sale can be found here. Insiders sold 1,494,440 shares of company stock valued at $199,049,946 in the last 90 days. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Ares Management by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 16,392,349 shares of the asset manager’s stock valued at $1,949,378,000 after acquiring an additional 631,334 shares during the period. FMR LLC increased its stake in shares of Ares Management by 27.4% during the third quarter. FMR LLC now owns 5,836,590 shares of the asset manager’s stock valued at $600,410,000 after purchasing an additional 1,255,866 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ares Management by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager’s stock valued at $460,525,000 after purchasing an additional 71,819 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ares Management by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,644,429 shares of the asset manager’s stock worth $272,033,000 after purchasing an additional 78,781 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ares Management in the 4th quarter worth approximately $205,499,000. Hedge funds and other 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.