Ares Management Co. (NYSE:ARES) CEO Sells $2,261,649.50 in Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 15,695 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $144.10, for a total transaction of $2,261,649.50. Following the completion of the sale, the chief executive officer now owns 156,241 shares in the company, valued at $22,514,328.10. The transaction was disclosed in a filing with the SEC, which is available through this link.

Ares Management Stock Performance

Ares Management stock opened at $147.00 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $45.54 billion, a PE ratio of 65.92, a P/E/G ratio of 1.29 and a beta of 1.22. The firm has a fifty day simple moving average of $141.15 and a two-hundred day simple moving average of $137.60. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $155.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period in the previous year, the firm posted $0.90 earnings per share. Research analysts expect that Ares Management Co. will post 4.23 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio is presently 166.82%.

Analysts Set New Price Targets

ARES has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. TD Cowen boosted their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $150.00 price target on shares of Ares Management in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $138.82.

Hedge Funds Weigh In On Ares Management

Several hedge funds and other institutional investors have recently modified their holdings of ARES. Curated Wealth Partners LLC raised its stake in shares of Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after acquiring an additional 3,321,434 shares during the last quarter. LRI Investments LLC bought a new position in shares of Ares Management during the first quarter valued at about $264,729,000. Massachusetts Financial Services Co. MA raised its stake in shares of Ares Management by 58.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after acquiring an additional 1,867,933 shares during the last quarter. Norges Bank bought a new position in shares of Ares Management during the fourth quarter valued at about $205,499,000. Finally, Lone Pine Capital LLC bought a new position in shares of Ares Management during the second quarter valued at about $209,884,000. 50.03% of the stock is owned by institutional investors.

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.