Ares Management (NYSE:ARES) Price Target Raised to $189.00

Ares Management (NYSE:ARES - Get Free Report) had its price target upped by analysts at Wells Fargo & Company from $182.00 to $189.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the asset manager's stock. Wells Fargo & Company's price target points to a potential upside of 17.20% from the stock's current price.

ARES has been the topic of several other reports. TD Cowen lowered their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Wolfe Research set a $193.00 price objective on Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. The Goldman Sachs Group cut their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Barclays raised their price target on Ares Management from $142.00 to $182.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.94.

Ares Management Stock Performance

NYSE ARES traded up $1.38 during trading on Friday, reaching $161.26. 497,316 shares of the company's stock were exchanged, compared to its average volume of 1,417,571. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day moving average price of $150.04 and a 200-day moving average price of $167.57. The stock has a market capitalization of $52.66 billion, a P/E ratio of 79.44, a PEG ratio of 1.28 and a beta of 1.40. Ares Management has a fifty-two week low of $110.63 and a fifty-two week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. The business had revenue of $951.96 million for the quarter, compared to analysts' expectations of $914.00 million. During the same quarter in the prior year, the business earned $0.80 EPS. Sell-side analysts forecast that Ares Management will post 5.28 earnings per share for the current fiscal year.

Insider Activity

In other Ares Management news, insider David B. Kaplan sold 69,526 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $160.99, for a total value of $11,192,990.74. Following the sale, the insider now owns 30,474 shares in the company, valued at approximately $4,906,009.26. The trade was a 69.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ashish Bhutani bought 10,000 shares of Ares Management stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $141.33 per share, for a total transaction of $1,413,300.00. Following the completion of the acquisition, the director now directly owns 22,905 shares of the company's stock, valued at $3,237,163.65. The trade was a 77.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 942,680 shares of company stock valued at $155,477,123 over the last quarter. 36.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ares Management

Several large investors have recently modified their holdings of ARES. Redmont Wealth Advisors LLC acquired a new stake in Ares Management during the 1st quarter worth about $28,000. Transce3nd LLC acquired a new position in Ares Management in the fourth quarter valued at approximately $29,000. Johnson Financial Group Inc. boosted its holdings in shares of Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after buying an additional 87 shares in the last quarter. Financial Network Wealth Advisors LLC bought a new stake in shares of Ares Management in the 1st quarter valued at $31,000. Finally, Elequin Capital LP acquired a new position in shares of Ares Management during the 4th quarter valued at $33,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.