Ares Management (NYSE:ARES) Price Target Cut to $159.00 by Analysts at TD Cowen

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

ARES has been the topic of a number of other reports. Piper Sandler initiated coverage on Ares Management in a research note on Thursday, September 24th. They issued an “overweight” rating and a $150.00 price objective on the stock. Citigroup restated a “market outperform” rating on shares of Ares Management in a research note on Friday. Barclays decreased their target price on Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Morgan Stanley set a $160.00 target price on Ares Management in a report on Tuesday, July 21st. Finally, BMO Capital Markets lifted their price target on Ares Management from $128.00 to $134.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.25.

Ares Management Stock Performance

NYSE:ARES opened at $118.20 on Monday. Ares Management has a 1 year low of $95.80 and a 1 year high of $181.19. The firm’s fifty day simple moving average is $132.17 and its 200 day simple moving average is $124.30. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $39.04 billion, a PE ratio of 54.22, a PEG ratio of 1.04 and a beta of 1.53.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $1.03 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ares Management will post 5.90 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Wednesday, September 16th. Ares Management’s payout ratio is 247.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. Renaissance Technologies LLC bought a new stake in Ares Management during the 1st quarter worth about $9,350,000. National Pension Service increased its position in Ares Management by 18.6% in the 2nd quarter. National Pension Service now owns 367,433 shares of the asset manager’s stock valued at $40,899,000 after acquiring an additional 57,641 shares in the last quarter. Junto Capital Management LP acquired a new stake in Ares Management in the 2nd quarter valued at about $40,084,000. Wealthfront Advisers LLC raised its stake in shares of Ares Management by 88.7% in the first quarter. Wealthfront Advisers LLC now owns 43,582 shares of the asset manager’s stock worth $4,755,000 after acquiring an additional 20,490 shares during the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of Ares Management by 156.1% in the first quarter. Bank of Nova Scotia now owns 79,469 shares of the asset manager’s stock worth $8,671,000 after acquiring an additional 48,438 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

About Ares Management

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.