Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells 20,048 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 20,048 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.44, for a total transaction of $3,356,837.12. Following the completion of the sale, the chairman now directly owns 229,952 shares of the company’s stock, valued at $38,503,162.88. This represents a 8.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The shares were sold at an average price of $167.24, for a total transaction of $2,636,204.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The stock was sold at an average price of $142.66, for a total transaction of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The stock was sold at an average price of $145.12, for a total transaction of $1,963,908.96.
• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The stock was sold at an average price of $144.09, for a total transaction of $2,262,789.36.

Ares Management Stock Up 0.9 %

Shares of NYSE:ARES opened at $171.89 on Thursday. The firm’s 50 day moving average price is $161.90 and its 200 day moving average price is $148.51. The stock has a market cap of $53.81 billion, a price-to-earnings ratio of 79.21, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. Ares Management Co. has a fifty-two week low of $105.89 and a fifty-two week high of $175.74. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter last year, the company earned $0.83 earnings per share. As a group, equities research analysts predict that Ares Management Co. will post 4.07 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ARES shares. Barclays increased their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group increased their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group increased their price target on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. TD Cowen increased their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Morgan Stanley increased their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.36.

Institutional Trading of Ares Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Ares Management by 1.3% during the first quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock worth $2,207,381,000 after acquiring an additional 206,996 shares during the last quarter. FMR LLC grew its position in shares of Ares Management by 1.0% during the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock worth $982,058,000 after acquiring an additional 63,851 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position 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 worth $674,183,000 after acquiring an additional 1,867,933 shares during the last quarter. State Street Corp grew its position in shares of Ares Management by 5.1% during the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock worth $596,318,000 after acquiring an additional 187,184 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Ares Management by 6.3% during the third quarter. Geode Capital Management LLC now owns 2,950,451 shares of the asset manager’s stock worth $459,580,000 after acquiring an additional 175,627 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

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.