Ares Management (NYSE:ARES) PT Raised to $172.00 at Wells Fargo & Company

Ares Management (NYSE:ARES) had its price objective increased by Wells Fargo & Company from $156.00 to $172.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.96% from the company’s current price.

ARES has been the subject of a number of other research reports. Redburn Atlantic assumed coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a report on Thursday, August 15th. UBS Group reduced their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group raised their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Barclays boosted their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Ares Management Stock Performance

NYSE ARES opened at $157.85 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $147.52 and its 200-day simple moving average is $141.43. The company has a market cap of $48.90 billion, a PE ratio of 70.85, a price-to-earnings-growth ratio of 1.47 and a beta of 1.22. Ares Management has a 1-year low of $96.00 and a 1-year high of $161.56.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, equities research analysts anticipate that Ares Management will post 4.15 EPS for the current fiscal year.

Insider Activity

In related news, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the sale, the insider now owns 456,702 shares in the company, valued at approximately $64,276,239.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Ryan Berry sold 57,500 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the transaction, the insider now directly owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 624,316 shares of company stock valued at $90,919,400. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Ares Management

Hedge funds have recently added to or reduced their stakes in the business. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Ares Management in the fourth quarter valued at $1,100,000. EP Wealth Advisors LLC boosted its stake in shares of Ares Management by 32.5% in the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after buying an additional 4,996 shares during the period. Norden Group LLC grew its position in shares of Ares Management by 2,695.3% during the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock worth $9,364,000 after buying an additional 67,895 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Ares Management by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after buying an additional 59,668 shares during the period. Finally, FORA Capital LLC acquired a new stake in Ares Management in the first quarter valued at approximately $3,434,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

About Ares Management

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.