Barclays Raises Ares Management (NYSE:ARES) Price Target to $174.00

10 Oct 2024, 07:15 by Sarita Garza · The Markets Daily

Ares Management (NYSE:ARES – Free Report) had its price target boosted by Barclays from $155.00 to $174.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.

A number of other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Ares Management from $134.00 to $133.00 and set a hold rating for the company in a research note on Thursday, August 15th. Redburn Atlantic assumed coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a neutral rating and a $140.00 price objective for the company. TD Cowen raised their price objective on shares of Ares Management from $158.00 to $162.00 and gave the stock a buy rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Ares Management from $141.00 to $143.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group increased their price objective on Ares Management from $145.00 to $160.00 and gave the stock a buy rating in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ares Management currently has a consensus rating of Moderate Buy and a consensus price target of $150.00.

View Our Latest Research Report on Ares Management

Ares Management Price Performance

NYSE:ARES opened at $158.16 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $49.00 billion, a P/E ratio of 69.91, a PEG ratio of 1.47 and a beta of 1.22. The company has a fifty day moving average price of $147.42 and a 200 day moving average price of $141.31. Ares Management has a one year low of $96.00 and a one year high of $161.56.

Ares Management (NYSE:ARES – Get Free Report) last released its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period last year, the business earned $0.90 earnings per share. Analysts anticipate that Ares Management will post 4.15 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.93 per share. The ex-dividend date was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.35%. Ares Management’s payout ratio is 166.82%.

Insider Activity

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan Berry sold 57,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 624,316 shares of company stock valued at $90,919,400 over the last three months. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Ares Management

A number of institutional investors have recently made changes to their positions in the stock. Grayhawk Investment Strategies Inc. acquired a new position in shares of Ares Management during the 4th quarter worth about $1,100,000. EP Wealth Advisors LLC increased its stake in Ares Management by 32.5% in the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after purchasing an additional 4,996 shares in the last quarter. Norden Group LLC increased its stake in Ares Management by 2,695.3% in the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after purchasing an additional 67,895 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Ares Management by 17.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after purchasing an additional 59,668 shares during the period. Finally, FORA Capital LLC bought a new position in shares of Ares Management during the first quarter worth $3,434,000. 50.03% of the stock is owned by institutional investors and hedge funds.

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