Ares Management Corporation (NYSE:ARES) Receives $177.50 Consensus Price Target from Brokerages

Shares of Ares Management Corporation (NYSE:ARES - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seventeen analysts that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $177.50.

ARES has been the subject of several recent analyst reports. TD Cowen reduced their target price on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Bank of America reduced their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a report on Friday, April 4th. Wolfe Research set a $193.00 target price on Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. The Goldman Sachs Group reduced their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Ares Management in a report on Monday, July 14th.

Insider Transactions at Ares Management

In other news, insider David B. Kaplan sold 33,145 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $165.12, for a total transaction of $5,472,902.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Arougheti sold 107,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the sale, the chief executive officer owned 1,400,000 shares of the company's stock, valued at approximately $225,876,000. This represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 873,145 shares of company stock worth $146,204,353. Company insiders own 36.86% of the company's stock.

Institutional Trading of Ares Management

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Transce3nd LLC bought a new position in Ares Management during the 4th quarter valued at approximately $29,000. Johnson Financial Group Inc. increased its position in Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock valued at $30,000 after buying an additional 87 shares in the last quarter. Elequin Capital LP bought a new position in Ares Management during the 4th quarter valued at approximately $33,000. Redmont Wealth Advisors LLC bought a new position in Ares Management during the 1st quarter valued at approximately $28,000. Finally, Financial Network Wealth Advisors LLC bought a new position in Ares Management during the 1st quarter valued at approximately $31,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Trading Down 0.0%

ARES traded down $0.04 during midday trading on Friday, hitting $183.13. 2,397,943 shares of the company were exchanged, compared to its average volume of 1,440,050. The firm has a market capitalization of $59.81 billion, a P/E ratio of 107.72, a P/E/G ratio of 1.50 and a beta of 1.37. Ares Management has a 1-year low of $110.63 and a 1-year high of $200.49. The firm's 50 day moving average price is $170.74 and its 200-day moving average price is $166.42. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. The business had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. During the same period in the previous year, the company posted $0.80 EPS. As a group, equities analysts forecast that Ares Management will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $1.12 per share. The ex-dividend date was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.45%. Ares Management's dividend payout ratio (DPR) is currently 263.53%.

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.