Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 30,465 Shares

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 30,465 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $176.16, for a total value of $5,366,714.40. Following the sale, the chief executive officer now owns 1,375,000 shares in the company, valued at approximately $242,220,000. This trade represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ares Management Stock Down 1.6 %

Shares of NYSE ARES opened at $173.94 on Tuesday. Ares Management Co. has a 52-week low of $107.69 and a 52-week high of $180.38. 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 stock has a 50 day moving average price of $166.32 and a 200 day moving average price of $150.62. The firm has a market capitalization of $54.45 billion, a price-to-earnings ratio of 80.16, a PEG ratio of 1.92 and a beta of 1.20.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. During the same period last year, the firm earned $0.83 earnings per share. Sell-side analysts expect that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.14%. Ares Management’s dividend payout ratio (DPR) is 171.43%.

Wall Street Analyst Weigh In

ARES has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. Morgan Stanley raised their target price on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. UBS Group upped their price target on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.36.

Hedge Funds Weigh In On Ares Management

Large investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in shares of Ares Management in the 3rd quarter valued at $36,000. Eastern Bank acquired a new stake in Ares Management during the third quarter worth about $39,000. West Oak Capital LLC increased its holdings 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 valued at $47,000 after purchasing an additional 100 shares in the last quarter. Key Financial Inc purchased a new position in Ares Management in the second quarter valued at $53,000. Finally, Industrial Alliance Investment Management Inc. increased its stake in shares of Ares Management by 80.4% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 201 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

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.