Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 13,533 Shares

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 13,533 shares of Ares Management stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $145.12, for a total transaction of $1,963,908.96. Following the completion of the transaction, the chairman now owns 136,467 shares of the company’s stock, valued at approximately $19,804,091.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bennett Rosenthal also recently made the following trade(s):

• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The shares were sold at an average price of $144.09, for a total value of $2,262,789.36.
• On Monday, August 19th, Bennett Rosenthal sold 10,154 shares of Ares Management stock. The stock was sold at an average price of $144.46, for a total value of $1,466,846.84.
• On Thursday, August 15th, Bennett Rosenthal sold 27,172 shares of Ares Management stock. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24.
• On Friday, June 21st, Bennett Rosenthal sold 150,000 shares of Ares Management stock. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00.

Ares Management Stock Performance

Shares of ARES stock opened at $146.40 on Monday. The stock has a market cap of $45.82 billion, a PE ratio of 65.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The stock has a 50-day moving average of $142.32 and a 200-day moving average of $137.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a one year low of $96.00 and a one year high of $155.53.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the previous year, the company earned $0.90 earnings per share. As a group, sell-side analysts expect that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s payout ratio is presently 166.82%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ARES shares. Redburn Atlantic initiated coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. JPMorgan Chase & Co. upped their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. TD Cowen upped their price target on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $150.00 price target on shares of Ares Management in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $138.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Compass Wealth Management LLC acquired a new stake in shares of Ares Management during the first quarter worth about $28,000. Riverview Trust Co bought a new stake in Ares Management during the 1st quarter worth approximately $29,000. West Oak Capital LLC raised its holdings in Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the period. Global Retirement Partners LLC lifted its stake in Ares Management by 555.0% in the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock valued at $35,000 after buying an additional 222 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in shares of Ares Management by 29,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after buying an additional 292 shares during the period. 50.03% of the stock is currently owned by institutional investors.

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.