Wells Fargo & Company Forecasts Strong Price Appreciation for Ares Management (NYSE:ARES) Stock

Ares Management (NYSE:ARES) had its target price raised by Wells Fargo & Company from $172.00 to $176.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.97% from the company’s previous close.

A number of other equities research analysts have also issued reports on ARES. JPMorgan Chase & Co. upped their target price on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Barclays upped their price target on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada lifted their price objective on Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and an average price target of $166.00.

Ares Management Stock Up 3.0 %

ARES stock opened at $164.53 on Monday. Ares Management has a 52 week low of $101.44 and a 52 week high of $171.78. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $156.49 and a 200-day simple moving average of $146.00. The stock has a market capitalization of $51.50 billion, a P/E ratio of 75.82, a P/E/G ratio of 1.56 and a beta of 1.20.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. During the same period in the previous year, the business earned $0.83 EPS. Equities analysts forecast that Ares Management will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Ares Management

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the sale, the insider now directly owns 456,702 shares in the company, valued at $64,276,239.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the transaction, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David B. Kaplan sold 19,262 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $146.74, for a total value of $2,826,505.88. Following the transaction, the insider now directly owns 81,287 shares of the company’s stock, valued at $11,928,054.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 622,640 shares of company stock worth $91,378,848 in the last three months. 41.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARES. Eastern Bank purchased a new stake in shares of Ares Management in the 3rd quarter valued at approximately $39,000. J.Safra Asset Management Corp raised its stake in Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after buying an additional 244 shares in the last quarter. West Oak Capital LLC raised its stake in Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after buying an additional 100 shares in the last quarter. Key Financial Inc purchased a new stake in Ares Management during the 2nd quarter worth about $53,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Ares Management during the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Company Profile

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.