Ares Management Co. (NYSE:ARES) Chairman Sells $3,228,005.06 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 18,389 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $175.54, for a total transaction of $3,228,005.06. Following the sale, the chairman now owns 114,967 shares of the company’s stock, valued at $20,181,307.18. This trade represents a 13.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, November 20th, Bennett Rosenthal sold 26,336 shares of Ares Management stock. The shares were sold at an average price of $171.18, for a total value of $4,508,196.48.
• 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 value of $2,636,204.12.
• On Friday, November 15th, Bennett Rosenthal sold 20,048 shares of Ares Management stock. The stock was sold at an average price of $167.44, for a total value of $3,356,837.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The shares were 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.

Ares Management Stock Up 0.3 %

Shares of NYSE:ARES opened at $175.52 on Monday. The stock’s fifty day simple moving average is $163.69 and its 200-day simple moving average is $149.29. Ares Management Co. has a 52-week low of $107.69 and a 52-week high of $176.83. The company has a market capitalization 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 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 issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period in the previous year, the firm posted $0.83 earnings per share. As a group, equities research analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley raised their price target on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Barclays raised their target price on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, The Goldman Sachs Group upped their price target on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $166.36.

Hedge Funds Weigh In On Ares Management

Several institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in Ares Management in the 3rd quarter valued at about $36,000. Eastern Bank purchased a new stake in Ares Management in the third quarter valued at approximately $39,000. West Oak Capital LLC increased its position in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Key Financial Inc acquired a new position in Ares Management during the second quarter worth approximately $53,000. Finally, EntryPoint Capital LLC purchased a new position in Ares Management during the first quarter worth approximately $54,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

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.