Ares Management (NYSE:ARES) Price Target Lowered to $160.00 at Citizens Jmp

Ares Management (NYSE:ARES) had its price objective decreased by Citizens Jmp from $190.00 to $160.00 in a report published on Thursday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the asset manager’s stock.

Several other brokerages also recently commented on ARES. Citigroup reiterated an “outperform” rating on shares of Ares Management in a report on Thursday. Morgan Stanley cut their price target on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a research report on Tuesday, May 26th. Oppenheimer reiterated an “outperform” rating and issued a $146.00 price objective (down from $147.00) on shares of Ares Management in a research note on Monday, May 4th. Finally, The Goldman Sachs Group dropped their target price on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.19.

Ares Management Stock Up 3.1%

ARES stock opened at $121.65 on Thursday. The firm has a market capitalization of $40.13 billion, a PE ratio of 56.58, a P/E/G ratio of 1.04 and a beta of 1.51. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management has a twelve month low of $95.80 and a twelve month high of $195.26. The stock’s 50 day moving average is $123.48 and its 200-day moving average is $128.76.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Sell-side analysts expect that Ares Management will post 6.04 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, June 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.4%. Ares Management’s dividend payout ratio (DPR) is presently 251.16%.

Hedge Funds Weigh In On Ares Management

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in Ares Management by 116.7% in the 1st quarter. AQR Capital Management LLC now owns 10,360 shares of the asset manager’s stock worth $1,519,000 after acquiring an additional 5,579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ares Management by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after purchasing an additional 70 shares during the last quarter. Empowered Funds LLC boosted its position in Ares Management by 42.7% during the first quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock worth $909,000 after purchasing an additional 1,853 shares during the period. Focus Partners Wealth boosted its position in Ares Management by 15.3% during the first quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager’s stock worth $279,000 after purchasing an additional 252 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Ares Management by 708.2% in the first quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock worth $72,000 after purchasing an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.