Ares Management Co. (NYSE:ARES) Insider Sells $8,092,550.00 in Stock

Ares Management Co. (NYSE:ARES) insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares in the company, valued at $64,276,239.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ryan Berry also recently made the following trade(s):

• On Monday, September 9th, Ryan Berry sold 10,000 shares of Ares Management stock. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00.

Ares Management Stock Up 1.9 %

Shares of Ares Management stock opened at $140.08 on Tuesday. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $155.53. The company has a market cap of $43.84 billion, a P/E ratio of 62.82, a P/E/G ratio of 1.29 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $143.08 and a 200 day moving average price of $138.31.

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

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

Hedge Funds Weigh In On Ares Management

A number of hedge funds have recently modified their holdings of ARES. Curated Wealth Partners LLC raised its position in 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 in the last quarter. LRI Investments LLC acquired a new stake in shares of Ares Management in the 1st quarter valued at $264,729,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after purchasing an additional 1,867,933 shares during the last quarter. Norges Bank bought a new stake in Ares Management in the fourth quarter worth $205,499,000. Finally, Lone Pine Capital LLC acquired a new position in Ares Management during the second quarter worth $209,884,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ARES shares. Barclays upped their price target on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. TD Cowen upped their price target on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday, August 5th. UBS Group decreased their target price on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $150.00 target price on shares of Ares Management in a research report on Wednesday, May 22nd. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $138.92.

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.