Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 36,469 Shares of Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 36,469 shares of Ares Management stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $146.36, for a total value of $5,337,602.84. Following the sale, the chief executive officer now directly owns 100,501 shares in the company, valued at $14,709,326.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ares Management Stock Down 0.6 %

NYSE ARES opened at $146.14 on Wednesday. The company has a market capitalization of $45.28 billion, a price-to-earnings ratio of 65.53, a PEG ratio of 1.29 and a beta of 1.22. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 1-year low of $96.00 and a 1-year high of $155.53. The stock’s 50 day moving average is $141.63 and its two-hundred day moving average is $137.81.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same period in the previous year, the business earned $0.90 EPS. Equities analysts forecast that Ares Management Co. will post 4.23 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s payout ratio is currently 166.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ARES. International Assets Investment Management LLC acquired a new position in shares of Ares Management in the 4th quarter worth approximately $216,650,000. abrdn plc bought a new position in Ares Management in the 4th quarter worth approximately $231,000. Signaturefd LLC raised its position in Ares Management by 32.7% in the 4th quarter. Signaturefd LLC now owns 1,117 shares of the asset manager’s stock worth $133,000 after purchasing an additional 275 shares during the last quarter. CWM LLC raised its position in Ares Management by 12.7% in the 4th quarter. CWM LLC now owns 1,877 shares of the asset manager’s stock worth $223,000 after purchasing an additional 212 shares during the last quarter. Finally, Yousif Capital Management LLC bought a new position in Ares Management in the 4th quarter worth approximately $231,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. TD Cowen lifted their target price on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays lifted their target price on Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research 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 research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ares Management has an average rating of “Hold” and a consensus 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.