Ares Management (NYSE:ARES) Stock Gets Price Target Reduction from TD Cowen

Ares Management (NYSE:ARES) had its price objective decreased by TD Cowen from $163.00 to $159.00 in a report issued on Monday,Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

Several other research firms have also recently commented on ARES. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $143.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Management in a report on Friday, August 21st. Barclays cut their price objective on Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Morgan Stanley set a $160.00 price objective on Ares Management in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $144.00 target price on shares of Ares Management in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.38.

Ares Management Stock Performance

Shares of ARES opened at $112.36 on Monday. The company has a market capitalization of $37.11 billion, a PE ratio of 22.36, a PEG ratio of 1.03 and a beta of 1.53. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. The company’s 50 day moving average price is $131.08 and its 200 day moving average price is $124.40. Ares Management has a 52 week low of $95.80 and a 52 week high of $181.19.

Ares Management (NYSE:ARES) last released its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. Research analysts expect that Ares Management will post 5.87 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $1.35 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.8%. Ares Management’s payout ratio is 247.71%.

Institutional Trading of Ares Management

Large investors have recently added to or reduced their stakes in the business. Triumph Capital Management lifted its holdings in shares of Ares Management by 127.3% during the second quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock worth $28,000 after buying an additional 140 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of Ares Management by 178.0% in the third quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 162 shares during the period. Osbon Capital Management LLC bought a new stake in shares of Ares Management in the fourth quarter valued at approximately $32,000. Wellington Altus USA Inc. acquired a new stake in shares of Ares Management in the second quarter worth $35,000. Finally, Anchor Investment Management LLC acquired a new stake in shares of Ares Management in the second quarter worth $38,000. 50.03% of the stock is owned by institutional investors.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company serves institutional investors, including pension plans, insurance companies, endowments and foundations, as well as wealth-management clients and other investors.

Its investment businesses include direct lending and other private credit strategies, liquid credit, corporate private equity, real estate, infrastructure and secondary investments.