Ares Management (NYSE:ARES) Given New $182.00 Price Target at Wells Fargo & Company

Ares Management (NYSE:ARES) had its target price increased by equities research analysts at Wells Fargo & Company from $156.00 to $182.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 12.22% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group decreased their price target on shares of Ares Management from $188.00 to $166.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. TD Cowen reduced their price target on shares of Ares Management from $216.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Oppenheimer upgraded Ares Management from a “market perform” rating to an “outperform” rating and set a $159.00 price target for the company in a report on Wednesday, April 16th. JMP Securities raised Ares Management from a “market perform” rating to a “market outperform” rating and set a $165.00 target price for the company in a research report on Tuesday, April 8th. Finally, Citizens Jmp raised Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.53.

Ares Management Price Performance

NYSE:ARES opened at $162.18 on Tuesday. The firm has a market cap of $51.15 billion, a price-to-earnings ratio of 79.89, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40. Ares Management has a 12-month low of $110.63 and a 12-month high of $200.49. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average is $146.41 and its two-hundred day moving average is $167.57.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. The business had revenue of $951.96 million for the quarter, compared to analysts’ expectations of $914.00 million. During the same quarter last year, the firm earned $0.80 earnings per share. Research analysts expect that Ares Management will post 5.28 EPS for the current year.

Insider Buying and Selling

In related news, Director Ashish Bhutani bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $141.33 per share, for a total transaction of $1,413,300.00. Following the acquisition, the director now owns 22,905 shares of the company’s stock, valued at approximately $3,237,163.65. This represents a 77.49 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David B. Kaplan sold 69,526 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $160.99, for a total transaction of $11,192,990.74. Following the completion of the transaction, the insider now owns 30,474 shares of the company’s stock, valued at $4,906,009.26. This trade represents a 69.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,180 shares of company stock valued at $39,411,066. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Ares Management

A number of large investors have recently added to or reduced their stakes in the company. Chesley Taft & Associates LLC raised its position in Ares Management by 0.4% in the 4th quarter. Chesley Taft & Associates LLC now owns 14,022 shares of the asset manager’s stock valued at $2,482,000 after buying an additional 60 shares during the last quarter. Huntington National Bank lifted its position in shares of Ares Management by 9.8% in the fourth quarter. Huntington National Bank now owns 704 shares of the asset manager’s stock worth $125,000 after purchasing an additional 63 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in Ares Management by 2.3% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,799 shares of the asset manager’s stock valued at $496,000 after purchasing an additional 64 shares in the last quarter. Versant Capital Management Inc lifted its position in Ares Management by 67.0% during the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after buying an additional 65 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Ares Management by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 2,352 shares of the asset manager’s stock valued at $416,000 after acquiring an additional 65 shares in the last quarter. 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.