Oppenheimer Cuts Ares Management (NYSE:ARES) Price Target to $140.00

Ares Management (NYSE:ARES) had its price target reduced by Oppenheimer from $146.00 to $140.00 in a research note released on Friday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

ARES has been the subject of a number of other reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. The Goldman Sachs Group reduced their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets upped their target price on Ares Management from $125.00 to $128.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Citizens Jmp dropped their target price on Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Finally, Morgan Stanley cut their price target on Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.13.

Ares Management Price Performance

ARES stock opened at $125.44 on Friday. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 58.34, a P/E/G ratio of 1.12 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23. The company has a 50 day simple moving average of $123.76 and a 200 day simple moving average of $126.82. Ares Management has a 1 year low of $95.80 and a 1 year high of $195.26.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same quarter in the prior year, the business earned $1.09 EPS. Research analysts anticipate that Ares Management will post 5.99 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, June 16th. Ares Management’s payout ratio is 251.16%.

Institutional Trading of Ares Management

Institutional investors have recently modified their holdings of the business. Hudson Bay Capital Management LP lifted its stake in shares of Ares Management by 1,903.9% in the 3rd quarter. Hudson Bay Capital Management LP now owns 60,717 shares of the asset manager’s stock valued at $9,708,000 after purchasing an additional 57,687 shares during the period. Quilter Plc grew its stake in Ares Management by 5.6% during the fourth quarter. Quilter Plc now owns 704,069 shares of the asset manager’s stock worth $113,799,000 after purchasing an additional 37,366 shares during the period. New York Life Investment Management LLC increased its holdings in Ares Management by 1,033.1% in the fourth quarter. New York Life Investment Management LLC now owns 28,272 shares of the asset manager’s stock worth $4,570,000 after purchasing an additional 25,777 shares in the last quarter. Osprey Private Wealth LLC lifted its stake in Ares Management by 25.6% in the fourth quarter. Osprey Private Wealth LLC now owns 64,530 shares of the asset manager’s stock valued at $10,430,000 after buying an additional 13,165 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Ares Management by 20.2% in the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after buying an additional 4,373,955 shares during the period. Institutional investors own 50.03% of the company’s stock.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.