Ares Management (NYSE:ARES) had its target price raised by Wells Fargo & Co from $33.00 to $37.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the asset manager’s stock.

A number of other equities research analysts have also issued reports on ARES. Barclays assumed coverage on Ares Management in a research note on Monday, August 5th. They set an overweight rating and a $33.00 price target for the company. Morgan Stanley raised their price target on Ares Management from $26.00 to $28.00 and gave the stock an equal weight rating in a research note on Friday, August 2nd. UBS Group raised their price target on Ares Management from $28.00 to $32.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, TheStreet raised Ares Management from a c+ rating to a b rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $29.38.

Shares of Ares Management stock opened at $30.10 on Thursday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $28.69 and a 200-day moving average price of $26.16. Ares Management has a one year low of $16.18 and a one year high of $30.71.

Ares Management (NYSE:ARES) last announced its earnings results on Wednesday, July 31st. The asset manager reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The company had revenue of $384.80 million during the quarter, compared to analysts’ expectations of $300.41 million. Ares Management had a return on equity of 22.54% and a net margin of 7.77%. Ares Management’s revenue for the quarter was up 88.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. Sell-side analysts predict that Ares Management will post 1.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, September 13th. Ares Management’s dividend payout ratio is currently 90.14%.

In other Ares Management news, Director Ares Management Llc sold 3,500,000 shares of Ares Management stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $0.11, for a total transaction of $385,000.00. Following the completion of the sale, the director now directly owns 86,857 shares of the company’s stock, valued at approximately $9,554.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R. Kipp Deveer sold 36,487 shares of Ares Management stock in a transaction on Monday, June 24th. The shares were sold at an average price of $27.18, for a total value of $991,716.66. The disclosure for this sale can be found here. Insiders have sold a total of 6,292,805 shares of company stock valued at $37,507,784 over the last three months. 151.62% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ARES. Janney Montgomery Scott LLC raised its position in Ares Management by 25.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 51,973 shares of the asset manager’s stock valued at $1,206,000 after purchasing an additional 10,573 shares in the last quarter. Laurion Capital Management LP bought a new stake in Ares Management during the 1st quarter valued at $910,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ares Management during the 1st quarter valued at $236,000. Lee Capital Holdings LLC raised its position in Ares Management by 16.7% during the 1st quarter. Lee Capital Holdings LLC now owns 70,000 shares of the asset manager’s stock valued at $1,625,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Lido Advisors LLC raised its position in Ares Management by 47.3% during the 1st quarter. Lido Advisors LLC now owns 26,187 shares of the asset manager’s stock valued at $607,000 after purchasing an additional 8,415 shares in the last quarter. 64.12% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Ares Management (NYSE:ARES)

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