Barclays Forecasts Strong Price Appreciation for Ares Management (NYSE:ARES) Stock

Ares Management (NYSE:ARES - Free Report) had its price target increased by Barclays from $182.00 to $200.00 in a research report sent to investors on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the asset manager's stock.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. TD Cowen lowered their price objective on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. JMP Securities increased their target price on shares of Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, May 8th. Citizens Jmp upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a report on Tuesday, April 8th. Finally, Bank of America cut their price target on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Ares Management has a consensus rating of "Moderate Buy" and an average target price of $176.88.

Ares Management Stock Down 1.5%

Shares of NYSE:ARES traded down $2.73 during trading on Thursday, reaching $177.40. 713,906 shares of the company traded hands, compared to its average volume of 1,428,486. 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 has a 1-year low of $110.63 and a 1-year high of $200.49. The firm has a fifty day simple moving average of $168.59 and a 200 day simple moving average of $166.50. The firm has a market cap of $57.94 billion, a P/E ratio of 104.35, a price-to-earnings-growth ratio of 1.39 and a beta of 1.37.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The business had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. During the same quarter in the previous year, the business earned $0.80 EPS. Analysts anticipate that Ares Management will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $1.12 dividend. The ex-dividend date was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.53%. Ares Management's payout ratio is 263.53%.

Insider Transactions at Ares Management

In other news, insider David B. Kaplan sold 33,145 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $165.12, for a total value of $5,472,902.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of Ares Management stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total transaction of $14,347,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 873,145 shares of company stock worth $146,204,353. 36.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARES. Smartleaf Asset Management LLC raised its stake in Ares Management by 9.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager's stock valued at $108,000 after buying an additional 62 shares during the last quarter. Huntington National Bank raised its stake in Ares Management by 9.8% during the 4th quarter. Huntington National Bank now owns 704 shares of the asset manager's stock valued at $125,000 after buying an additional 63 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake in Ares Management by 1.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,775 shares of the asset manager's stock valued at $845,000 after buying an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Ares Management by 3.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,168 shares of the asset manager's stock worth $384,000 after purchasing an additional 70 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ares Management by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager's stock worth $197,000 after purchasing an additional 70 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

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.