Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 18,232 Shares

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 18,232 shares of Ares Management stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $175.54, for a total transaction of $3,200,445.28. Following the completion of the transaction, the chief executive officer now owns 116,201 shares in the company, valued at approximately $20,397,923.54. This trade represents a 13.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ares Management Trading Up 0.3 %

Ares Management stock opened at $175.52 on Monday. Ares Management Co. has a 12 month low of $107.69 and a 12 month high of $176.83. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $54.95 billion, a P/E ratio of 80.88, a P/E/G ratio of 1.91 and a beta of 1.20. The company’s fifty day simple moving average is $163.69 and its 200-day simple moving average is $149.29.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $833.58 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, sell-side analysts forecast that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is presently 171.43%.

Institutional Trading of Ares Management

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new stake in Ares Management in the third quarter worth $36,000. Eastern Bank acquired a new stake in shares of Ares Management in the third quarter worth about $39,000. West Oak Capital LLC boosted its stake in shares of Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Key Financial Inc bought a new stake in shares of Ares Management during the 2nd quarter worth about $53,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Ares Management during the 1st quarter valued at about $54,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada raised their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Redburn Atlantic initiated coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective for the company. Barclays lifted their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. TD Cowen upped their price target on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

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.