The Goldman Sachs Group Increases Ares Management (NYSE:ARES) Price Target to $160.00

Ares Management (NYSE:ARES) had its price objective raised by investment analysts at The Goldman Sachs Group from $145.00 to $160.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 1.97% from the stock’s previous close.

A number of other brokerages have also commented on ARES. Barclays boosted their price target on Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company assumed coverage on Ares Management in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 target price on the stock. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Finally, TD Cowen increased their target price on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $142.85.

Ares Management Stock Performance

Shares of ARES stock opened at $156.91 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management has a 52 week low of $96.00 and a 52 week high of $159.95. The company’s 50 day moving average price is $146.06 and its two-hundred day moving average price is $140.11. The company has a market capitalization of $48.61 billion, a P/E ratio of 70.36, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period last year, the business posted $0.90 earnings per share. On average, analysts expect that Ares Management will post 4.15 earnings per share for the current fiscal year.

Insider Activity

In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at $161,475,750. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan Berry sold 57,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the transaction, the insider now owns 456,702 shares in the company, valued at $64,276,239.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 604,316 shares of company stock valued at $87,718,000. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ares Management

Hedge funds have recently bought and sold shares of the stock. Gulf International Bank UK Ltd grew its position in shares of Ares Management by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock valued at $1,784,000 after purchasing an additional 90 shares during the last quarter. West Oak Capital LLC increased its position in Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Ares Management by 10.8% during the second quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock worth $143,000 after buying an additional 105 shares in the last quarter. Americana Partners LLC boosted its position in shares of Ares Management by 7.2% in the second quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 108 shares during the period. Finally, Chase Investment Counsel Corp grew its stake in shares of Ares Management by 0.4% in the first quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock valued at $4,344,000 after acquiring an additional 115 shares in the last quarter. 50.03% of the stock is currently 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.