Ares Management (NYSE:ARES – Free Report) had its target price hoisted by Wells Fargo & Company from $112.00 to $126.00 in a research note published on Friday morning, Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.
Other analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Ares Management from $109.00 to $118.00 and gave the stock an equal weight rating in a report on Wednesday, January 24th. Barclays cut their price target on shares of Ares Management from $130.00 to $118.00 and set an overweight rating for the company in a report on Wednesday, November 1st. Royal Bank of Canada increased their price objective on shares of Ares Management from $120.00 to $135.00 and gave the company an outperform rating in a research note on Tuesday. Finally, Jefferies Financial Group downgraded shares of Ares Management from a buy rating to a hold rating and set a $122.00 price objective for the company. in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Ares Management has a consensus rating of Hold and a consensus target price of $117.17.
Ares Management Stock Performance
Ares Management (NYSE:ARES – Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Ares Management had a net margin of 11.89% and a return on equity of 17.60%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. During the same quarter in the prior year, the firm posted $1.21 EPS. Analysts anticipate that Ares Management will post 3.54 earnings per share for the current year.
Ares Management Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 annualized dividend and a dividend yield of 2.72%. Ares Management’s dividend payout ratio is 143.26%.
Insider Transactions at Ares Management
In other news, CEO Michael J. Arougheti sold 150,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.17, for a total transaction of $15,775,500.00. Following the completion of the sale, the chief executive officer now directly owns 825,000 shares in the company, valued at $86,765,250. The transaction was disclosed in a filing with the SEC, which is available at this link. 47.34% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Ares Management
Several large investors have recently modified their holdings of ARES. Legacy Financial Group LLC acquired a new stake in Ares Management in the third quarter worth $27,000. Hollencrest Capital Management acquired a new stake in Ares Management in the third quarter worth $27,000. Rise Advisors LLC grew its holdings in Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after purchasing an additional 102 shares during the period. Harbour Investments Inc. grew its holdings in Ares Management by 210.5% in the first quarter. Harbour Investments Inc. now owns 354 shares of the asset manager’s stock worth $30,000 after purchasing an additional 240 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Ares Management by 300.0% in the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after purchasing an additional 300 shares during the period. 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.
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