Ares Management (NYSE:ARES) Price Target Cut to $158.00 by Analysts at TD Cowen

Ares Management (NYSE:ARES) had its price target lowered by TD Cowen from $168.00 to $158.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

A number of other analysts have also issued reports on ARES. JMP Securities restated a market perform rating on shares of Ares Management in a report on Tuesday, April 9th. Barclays cut their price objective on Ares Management from $153.00 to $150.00 and set an overweight rating for the company in a report on Friday, May 3rd. UBS Group increased their price objective on Ares Management from $156.00 to $160.00 and gave the stock a buy rating in a report on Friday, April 12th. Royal Bank of Canada reiterated an outperform rating and set a $150.00 price objective on shares of Ares Management in a report on Wednesday, May 22nd. Finally, Jefferies Financial Group cut their price objective on Ares Management from $131.00 to $127.00 and set a hold rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ares Management presently has a consensus rating of Hold and an average price target of $131.62.

Ares Management Price Performance

Shares of NYSE:ARES opened at $138.77 on Monday. The stock has a fifty day moving average of $138.52 and a 200-day moving average of $131.95. The company has a market capitalization of $42.99 billion, a PE ratio of 62.23, a price-to-earnings-growth ratio of 1.19 and a beta of 1.22. Ares Management has a one year low of $93.69 and a one year high of $150.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03.

Ares Management (NYSE:ARES) last released its earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The business had revenue of $707.36 million during the quarter, compared to analysts’ expectations of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same quarter in the previous year, the company earned $0.71 EPS. As a group, equities analysts anticipate that Ares Management will post 4.27 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Friday, June 14th. Ares Management’s payout ratio is 166.82%.

Insider Activity

In other news, Chairman Antony P. Ressler sold 114,492 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $131.97, for a total value of $15,109,509.24. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 filing with the SEC, which can be accessed through this link. Also, Chairman Antony P. Ressler sold 114,492 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $131.97, for a total value of $15,109,509.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 969,315 shares of company stock valued at $132,164,160. 41.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Ares Management

Hedge funds and other institutional investors have recently made changes to their positions in the business. Compass Wealth Management LLC acquired a new stake in shares of Ares Management in the first quarter valued at about $28,000. Riverview Trust Co acquired a new stake in Ares Management during the first quarter worth about $29,000. Rise Advisors LLC grew its position in Ares Management by 73.9% during the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after buying an additional 102 shares in the last quarter. West Oak Capital LLC grew its position in 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 buying an additional 100 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in Ares Management by 555.0% during the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after buying an additional 222 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

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.