Ares Management (NYSE:ARES) Coverage Initiated by Analysts at TD Cowen

Stock analysts at TD Cowen assumed coverage on shares of Ares Management (NYSE:ARES) in a research note issued on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $154.00 price target on the asset manager’s stock. TD Cowen’s target price points to a potential upside of 13.09% from the stock’s current price.

Several other brokerages have also recently weighed in on ARES. Morgan Stanley increased their price target on shares of Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. UBS Group boosted their price target on Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada increased their price objective on Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Wells Fargo & Company boosted their target price on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 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. According to data from MarketBeat.com, Ares Management has an average rating of “Hold” and an average price target of $128.08.

Ares Management Trading Up 3.2 %

Shares of ARES opened at $136.17 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. Ares Management has a fifty-two week low of $80.07 and a fifty-two week high of $139.48. The firm has a 50 day moving average price of $133.19 and a 200-day moving average price of $121.96. The firm has a market cap of $42.16 billion, a price-to-earnings ratio of 61.06, a PEG ratio of 1.00 and a beta of 1.17.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). Ares Management had a return on equity of 21.63% and a net margin of 12.86%. The company had revenue of $707.36 million for the quarter, compared to the consensus estimate of $814.88 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, equities research analysts forecast that Ares Management will post 4.47 earnings per share for the current year.

Insider Activity at Ares Management

In other news, insider R. Kipp Deveer sold 82,796 shares of Ares Management stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 1,245,729 shares in the company, valued at $170,004,636.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Antony P. Ressler sold 143,569 shares of the company’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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R. Kipp Deveer sold 82,796 shares of the 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 $170,004,636.63. The disclosure for this sale can be found here. Insiders sold a total of 1,494,440 shares of company stock valued at $199,049,946 in the last three months. Company insiders own 41.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Ares Management by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 16,392,349 shares of the asset manager’s stock valued at $1,949,378,000 after buying an additional 631,334 shares during the last quarter. FMR LLC lifted its stake in Ares Management by 27.4% during the 3rd quarter. FMR LLC now owns 5,836,590 shares of the asset manager’s stock valued at $600,410,000 after acquiring an additional 1,255,866 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Ares Management by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager’s stock valued at $460,525,000 after acquiring an additional 71,819 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ares Management by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 2,644,429 shares of the asset manager’s stock worth $272,033,000 after acquiring an additional 78,781 shares during the period. Finally, Norges Bank purchased a new position in shares of Ares Management during the fourth quarter valued at approximately $205,499,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

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.