Wells Fargo & Company Issues Positive Forecast for Ares Management (NYSE:ARES) Stock Price

Ares Management (NYSE:ARES) had its target price lifted by equities research analysts at Wells Fargo & Company from $172.00 to $176.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 6.97% from the company’s previous close.

Several other research firms also recently commented on ARES. Barclays upped their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. UBS Group upped their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. TD Cowen raised their price target on Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ares Management has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

Ares Management Stock Performance

Shares of ARES stock opened at $164.53 on Monday. The stock’s 50-day moving average is $156.49 and its two-hundred day moving average is $146.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management has a 1 year low of $101.44 and a 1 year high of $171.78. The firm has a market cap of $51.50 billion, a price-to-earnings ratio of 75.82, a PEG ratio of 1.56 and a beta of 1.20.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. During the same quarter last year, the business posted $0.83 EPS. Analysts predict that Ares Management will post 4.11 earnings per share for the current year.

Insider Activity at Ares Management

In related news, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ares Management news, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan Berry sold 40,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total value of $6,719,600.00. Following the transaction, the insider now directly owns 304,202 shares in the company, valued at approximately $51,102,893.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 622,640 shares of company stock valued at $91,378,848 over the last quarter. Insiders own 41.89% of the company’s stock.

Institutional Trading of Ares Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Ares Management by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock worth $2,207,381,000 after acquiring an additional 206,996 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Ares Management by 58.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after purchasing an additional 1,867,933 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Ares Management by 31.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock valued at $444,103,000 after purchasing an additional 678,549 shares during the last quarter. LRI Investments LLC grew its stake in shares of Ares Management by 49.4% during the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after buying an additional 933,664 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Ares Management by 24.4% during the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock worth $308,754,000 after buying an additional 453,657 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

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.