Ares Management (NYSE:ARES) Price Target Raised to $162.00

Ares Management (NYSE:ARES) had its price objective boosted by Oppenheimer from $151.00 to $162.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the asset manager’s stock.

Several other brokerages have also recently weighed in on ARES. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $143.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Royal Bank Of Canada raised their price objective on shares of Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods raised shares of Ares Management to a “hold” rating in a research note on Monday, July 20th. Wall Street Zen lowered shares of Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Ares Management has a consensus rating of “Moderate Buy” and an average target price of $160.47.

Ares Management Stock Performance

Shares of Ares Management stock opened at $142.51 on Thursday. Ares Management has a one year low of $95.80 and a one year high of $186.85. The company has a market cap of $47.07 billion, a price-to-earnings ratio of 65.37, a PEG ratio of 1.23 and a beta of 1.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. The business’s 50 day moving average price is $128.82 and its 200 day moving average price is $122.18.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts predict that Ares Management will post 5.94 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Ares Management’s dividend payout ratio is 247.71%.

Institutional Trading of Ares Management

A number of hedge funds and other institutional investors have recently modified their holdings of ARES. California State Teachers Retirement System lifted its position in Ares Management by 10,879.6% in the second quarter. California State Teachers Retirement System now owns 33,559,520 shares of the asset manager’s stock valued at $3,735,510,000 after buying an additional 33,253,867 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ares Management by 55.7% during the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock valued at $883,716,000 after acquiring an additional 1,963,460 shares during the last quarter. Capital International Investors raised its stake in shares of Ares Management by 0.3% in the 4th quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock valued at $688,176,000 after acquiring an additional 14,516 shares during the period. Principal Financial Group Inc. raised its stake in shares of Ares Management by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager’s stock valued at $437,417,000 after acquiring an additional 169,598 shares during the period. Finally, Norges Bank acquired a new position in shares of Ares Management in the 4th quarter worth approximately $396,165,000. 50.03% of the stock is owned by institutional investors and hedge funds.

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.