Ares Management (NYSE:ARES) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Ares Management (NYSE:ARES) had its price target upped by equities researchers at Wells Fargo & Company from $207.00 to $215.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.07% from the company’s previous close.

Several other brokerages have also weighed in on ARES. Deutsche Bank Aktiengesellschaft raised their target price on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. UBS Group increased their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays reduced their price target on shares of Ares Management from $224.00 to $217.00 and set an “overweight” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods upgraded Ares Management from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. Finally, Royal Bank of Canada upped their target price on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.17.

Ares Management Stock Up 0.3 %

Ares Management stock traded up $0.49 during trading on Thursday, reaching $190.14. The stock had a trading volume of 186,186 shares, compared to its average volume of 1,040,935. Ares Management has a 52-week low of $125.23 and a 52-week high of $200.49. The business has a 50 day moving average price of $183.08 and a 200 day moving average price of $165.17. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $59.53 billion, a PE ratio of 87.45, a P/E/G ratio of 1.50 and a beta of 1.18.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a return on equity of 19.89% and a net margin of 12.51%. On average, analysts predict that Ares Management will post 4.04 EPS for the current year.

Insider Transactions at Ares Management

In other Ares Management news, insider Ryan Berry sold 1,671 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the transaction, the insider now owns 253,214 shares in the company, valued at approximately $44,312,450. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 20,096 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,364,874.24. Following the completion of the sale, the chief executive officer now directly owns 229,904 shares of the company’s stock, valued at $38,495,125.76. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 555,838 shares of company stock worth $96,785,773 over the last 90 days. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ares Management

A number of large investors have recently made changes to their positions in ARES. Chesley Taft & Associates LLC lifted its holdings in shares of Ares Management by 0.4% in the fourth quarter. Chesley Taft & Associates LLC now owns 14,022 shares of the asset manager’s stock valued at $2,482,000 after purchasing an additional 60 shares in the last quarter. Premier Path Wealth Partners LLC lifted its stake in Ares Management by 2.3% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,799 shares of the asset manager’s stock valued at $496,000 after buying an additional 64 shares in the last quarter. Versant Capital Management Inc grew its holdings in Ares Management by 67.0% during the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock valued at $29,000 after buying an additional 65 shares during the last quarter. Yousif Capital Management LLC increased its position in Ares Management by 2.8% during the fourth quarter. Yousif Capital Management LLC now owns 2,352 shares of the asset manager’s stock worth $416,000 after buying an additional 65 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ares Management by 6.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the asset manager’s stock worth $203,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

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.