Insider Selling: Ares Management Co. (NYSE:ARES) CEO Sells $5,150,119.44 in Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 29,292 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $175.82, for a total value of $5,150,119.44. Following the completion of the sale, the chief executive officer now owns 86,909 shares in the company, valued at approximately $15,280,340.38. The trade was a 25.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ares Management Trading Down 2.3 %

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

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $833.58 million. During the same quarter last year, the firm posted $0.83 EPS. 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 business also recently declared 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 dividend on an annualized basis and a yield of 2.13%. Ares Management’s dividend payout ratio is presently 171.43%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ARES shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, November 11th. TD Cowen boosted 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. JPMorgan Chase & Co. dropped their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Redburn Atlantic began coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Finally, UBS Group increased their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $166.36.

Institutional Trading of Ares Management

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Curated Wealth Partners LLC grew its position in Ares Management by 199.7% in the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after acquiring an additional 3,321,434 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Ares Management in the 1st quarter worth about $264,729,000. Massachusetts Financial Services Co. MA increased its position in shares of Ares Management by 58.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after purchasing an additional 1,867,933 shares during the last quarter. Lone Pine Capital LLC purchased a new position in shares of Ares Management during the 2nd quarter valued at about $209,884,000. Finally, Millennium Management LLC lifted its position in Ares Management by 722.6% in the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after buying an additional 1,526,856 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

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.