Ares Management Co. (NYSE:ARES) Chairman Sells $5,133,592.36 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,198 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $175.82, for a total transaction of $5,133,592.36. Following the transaction, the chairman now owns 85,769 shares in the company, valued at $15,079,905.58. This represents a 25.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, November 22nd, Bennett Rosenthal sold 18,389 shares of Ares Management stock. The shares were sold at an average price of $175.54, for a total transaction of $3,228,005.06.
• 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 transaction of $4,508,196.48.
• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The stock was 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 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 value of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The shares were sold at an average price of $145.12, for a total transaction of $1,963,908.96.

Ares Management Stock Down 2.3 %

Shares of Ares Management stock opened at $174.78 on Friday. Ares Management Co. has a one year low of $107.69 and a one year high of $180.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50-day moving average is $165.56 and its 200 day moving average is $150.13. The firm has a market cap of $54.72 billion, a price-to-earnings ratio of 80.54, a PEG ratio of 1.92 and a beta of 1.20.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter in the prior year, the company earned $0.83 earnings per share. Equities research analysts anticipate that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Hedge Funds Weigh In On Ares Management

A number of hedge funds have recently bought and sold shares of ARES. Victory Capital Management Inc. boosted its position in Ares Management by 6.5% in the third quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock worth $10,195,000 after purchasing an additional 4,000 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Ares Management by 24.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock worth $25,674,000 after purchasing an additional 38,047 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ares Management by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock worth $106,436,000 after purchasing an additional 36,476 shares during the period. Cetera Investment Advisers lifted its stake in Ares Management by 45.9% in the first quarter. Cetera Investment Advisers now owns 82,717 shares of the asset manager’s stock valued at $11,000,000 after purchasing an additional 26,012 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Ares Management in the first quarter valued at approximately $264,729,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ARES shares. JPMorgan Chase & Co. lowered their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. TD Cowen increased their price target on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. UBS Group lifted their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Morgan Stanley lifted their target price on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. 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 stock presently has an average rating of “Moderate Buy” and a consensus target price 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.