Fintel reports that on May 7, 2024, TD Cowen initiated coverage of Ares Management (NYSE:ARES) with a Buy recommendation.
Analyst Price Forecast Suggests 8.64% Upside
As of May 2, 2024, the average one-year price target for Ares Management is 149.15. The forecasts range from a low of 132.31 to a high of $168.00. The average price target represents an increase of 8.64% from its latest reported closing price of 137.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ares Management is 4,502MM, an increase of 27.68%. The projected annual non-GAAP EPS is 5.24.
What is the Fund Sentiment?
There are 1,053 funds or institutions reporting positions in Ares Management. This is an increase of 48 owner(s) or 4.78% in the last quarter. Average portfolio weight of all funds dedicated to ARES is 0.43%, an increase of 6.54%. Total shares owned by institutions increased in the last three months by 0.87% to 191,146K shares. 
The put/call ratio of ARES is 2.36, indicating a bearish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 15,858K shares representing 8.15% ownership of the company. In its prior filing, the firm reported owning 17,537K shares , representing a decrease of 10.58%. The firm decreased its portfolio allocation in ARES by 2.71% over the last quarter.
Sumitomo Mitsui Financial Group holds 13,365K shares representing 6.87% ownership of the company. No change in the last quarter.
Capital World Investors holds 11,076K shares representing 5.69% ownership of the company. No change in the last quarter.
Capital International Investors holds 5,570K shares representing 2.86% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,275K shares representing 2.71% ownership of the company. In its prior filing, the firm reported owning 5,107K shares , representing an increase of 3.18%. The firm increased its portfolio allocation in ARES by 6.70% over the last quarter.
Ares Management Background Information
(This description is provided by the company.)
Ares Management Corporation is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s global platform had $149 billion of assets under management as of March 31, 2020 with more than 1,200 employees in over 20 offices in more than 10 countries.
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This story originally appeared on Fintel.
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