Ares Management (NYSE:ARES – Free Report) had its target price increased by Wells Fargo & Company from $112.00 to $126.00 in a research note released on Friday morning, Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.
Several other equities analysts also recently commented on ARES. Royal Bank of Canada upped their price objective on shares of Ares Management from $120.00 to $135.00 and gave the company an outperform rating in a report on Tuesday, February 6th. Jefferies Financial Group downgraded Ares Management from a buy rating to a hold rating and set a $122.00 price objective for the company. in a research note on Tuesday, January 9th. Morgan Stanley increased their target price on shares of Ares Management from $109.00 to $118.00 and gave the company an equal weight rating in a research report on Wednesday, January 24th. Finally, Barclays cut their price target on Ares Management from $130.00 to $118.00 and set an overweight rating on the stock in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $121.25.
Ares Management Price Performance
Ares Management (NYSE:ARES – Get Free Report) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a net margin of 13.06% and a return on equity of 21.58%. During the same period in the previous year, the company earned $1.21 earnings per share. Equities research analysts anticipate that Ares Management will post 4.65 earnings per share for the current fiscal year.
Ares Management Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.93 per share. The ex-dividend date is Thursday, March 14th. This is a boost from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 annualized dividend and a yield of 2.71%. Ares Management’s dividend payout ratio (DPR) is 128.87%.
Insider Buying and Selling at Ares Management
In other Ares Management news, CEO Michael J. Arougheti sold 150,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $105.17, for a total transaction of $15,775,500.00. Following the transaction, the chief executive officer now directly owns 825,000 shares in the company, valued at approximately $86,765,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 47.34% of the company’s stock.
Institutional Investors Weigh In On Ares Management
Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Ares Management by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 15,761,015 shares of the asset manager’s stock worth $1,621,336,000 after acquiring an additional 273,645 shares during the last quarter. BlackRock Inc. increased its holdings in Ares Management by 7.3% in the 2nd quarter. BlackRock Inc. now owns 11,389,511 shares of the asset manager’s stock worth $1,097,379,000 after acquiring an additional 771,052 shares during the last quarter. FMR LLC increased its holdings in Ares Management by 27.4% in the 3rd quarter. FMR LLC now owns 5,836,590 shares of the asset manager’s stock worth $600,410,000 after acquiring an additional 1,255,866 shares during the last quarter. Franklin Resources Inc. increased its holdings in Ares Management by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager’s stock worth $460,525,000 after acquiring an additional 71,819 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Ares Management by 26.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,714,982 shares of the asset manager’s stock worth $357,938,000 after acquiring an additional 786,862 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other 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.
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