Raymond James Financial Initiates Coverage on Ares Management (NYSE:ARES)

Key Points

• Raymond James Financial has initiated coverage on Ares Management (NYSE:ARES), assigning a "market perform" rating on the stock.
• Despite mixed ratings from different analysts, Ares Management currently holds an average rating of "Moderate Buy" with a consensus target price of $177.50.
• Insider transactions indicate notable sales, with CEO Michael J. Arougheti selling over 182,000 shares recently, reducing his ownership by 34.18%.

Investment analysts at Raymond James Financial initiated coverage on shares of Ares Management (NYSE:ARES - Get Free Report) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm set a "market perform" rating on the asset manager's stock.

Other research analysts also recently issued reports about the stock. TD Cowen decreased their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company upped their target price on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wolfe Research set a $193.00 price target on shares of Ares Management and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Oppenheimer lowered shares of Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Finally, Citizens Jmp upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $177.50.

Ares Management Stock Up 2.1%

ARES opened at $186.24 on Monday. The firm has a 50 day moving average price of $171.68 and a 200 day moving average price of $166.35. The company has a market cap of $60.82 billion, a PE ratio of 109.56, a price-to-earnings-growth ratio of 1.52 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 company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07.

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 net margin of 9.73% and a return on equity of 16.29%. The business had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. During the same quarter last year, the firm posted $0.80 EPS. Sell-side analysts expect that Ares Management will post 5.28 earnings per share for the current year.

Insider Transactions at Ares Management

In other news, CEO Michael J. Arougheti sold 182,108 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $170.07, for a total value of $30,971,107.56. Following the sale, the chief executive officer directly owned 350,684 shares in the company, valued at $59,640,827.88. The trade was a 34.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total value of $14,347,150.00. The disclosure for this sale can be found here. Insiders have sold 873,145 shares of company stock worth $146,204,353 in the last three months. Insiders own 36.86% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Transce3nd LLC acquired a new stake in Ares Management in the 4th quarter valued at $29,000. Johnson Financial Group Inc. grew its position 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 valued at $30,000 after acquiring an additional 87 shares during the period. Elequin Capital LP bought a new stake in shares of Ares Management in the fourth quarter valued at approximately $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ares Management in the first quarter valued at approximately $28,000. Finally, Financial Network Wealth Advisors LLC bought a new position in Ares Management in the 1st quarter valued at $31,000. 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.

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.