Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 15,825 Shares

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 15,825 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $167.24, for a total value of $2,646,573.00. Following the completion of the transaction, the chief executive officer now owns 214,079 shares of the company’s stock, valued at $35,802,571.96. This trade represents a 6.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ares Management Stock Up 0.9 %

ARES opened at $171.89 on Thursday. The business has a 50 day moving average price of $161.90 and a 200 day moving average price of $148.51. Ares Management Co. has a twelve month low of $105.89 and a twelve month high of $175.74. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $53.81 billion, a P/E ratio of 79.21, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same period in the previous year, the company earned $0.83 EPS. Research analysts forecast that Ares Management Co. will post 4.07 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is currently 171.43%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company increased their price objective on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. UBS Group raised their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen raised their price objective on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.36.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ARES. Point72 DIFC Ltd bought a new position in Ares Management in the 3rd quarter worth approximately $36,000. Eastern Bank bought a new position in Ares Management in the 3rd quarter worth approximately $39,000. West Oak Capital LLC increased its position in Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares during the period. Key Financial Inc bought a new position in Ares Management in the 2nd quarter worth approximately $53,000. Finally, EntryPoint Capital LLC bought a new position in Ares Management in the 1st quarter worth approximately $54,000. 50.03% of the stock is 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.