JPMorgan Chase & Co. Cuts Ares Management (NYSE:ARES) Price Target to $174.00

Ares Management (NYSE:ARES) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $176.00 to $174.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 0.88% from the company’s previous close.

A number of other equities analysts also recently weighed in on the company. TD Cowen boosted their price target on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group increased their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group lifted their price objective on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barclays increased their price objective 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. Finally, Redburn Atlantic started coverage on shares of Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.00.

Ares Management Price Performance

NYSE:ARES opened at $172.49 on Tuesday. The stock has a market capitalization of $53.99 billion, a PE ratio of 79.49, a P/E/G ratio of 1.56 and a beta of 1.20. Ares Management has a 1-year low of $101.44 and a 1-year high of $175.74. The firm has a fifty day simple moving average of $157.04 and a 200 day simple moving average of $146.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same quarter last year, the firm posted $0.83 EPS. On average, research analysts expect that Ares Management will post 4.11 EPS for the current fiscal year.

Insider Transactions at Ares Management

In related news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the sale, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Ares Management news, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the transaction, the insider now directly owns 456,702 shares of the company’s stock, valued at $64,276,239.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 27,172 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the sale, the chairman now owns 222,828 shares of the company’s stock, valued at approximately $32,459,354.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 622,640 shares of company stock valued at $91,378,848. 41.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ares Management

Several hedge funds have recently bought and sold shares of ARES. J.Safra Asset Management Corp lifted its holdings in shares of Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after acquiring an additional 244 shares during the period. Eastern Bank acquired a new position in Ares Management during the third quarter valued at approximately $39,000. West Oak Capital LLC lifted its stake in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Key Financial Inc acquired a new stake in shares of Ares Management in the 2nd quarter valued at $53,000. Finally, EntryPoint Capital LLC bought a new position in shares of Ares Management in the 1st quarter valued at $54,000. 50.03% of the stock is owned by institutional investors.

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.