Ares Management Co. (NYSE:ARES) Chairman Sells $10,728,750.00 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total value of $10,728,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The shares were 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 stock was sold at an average price of $145.12, for a total transaction of $1,963,908.96.
• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The stock was sold at an average price of $144.09, for a total value of $2,262,789.36.
• On Monday, August 19th, Bennett Rosenthal sold 10,154 shares of Ares Management stock. The shares were sold at an average price of $144.46, for a total value of $1,466,846.84.
• On Thursday, August 15th, Bennett Rosenthal sold 27,172 shares of Ares Management stock. The shares were sold at an average price of $145.67, for a total transaction of $3,958,145.24.
• On Friday, June 21st, Bennett Rosenthal sold 150,000 shares of Ares Management stock. The shares were sold at an average price of $131.94, for a total transaction of $19,791,000.00.

Ares Management Stock Performance

Ares Management stock traded up $1.93 during mid-day trading on Monday, hitting $149.33. The company had a trading volume of 614,043 shares, compared to its average volume of 1,121,863. The company has a market capitalization of $46.26 billion, a price-to-earnings ratio of 66.96, a P/E/G ratio of 1.33 and a beta of 1.21. Ares Management Co. has a 12-month low of $96.00 and a 12-month high of $155.53. The company’s fifty day moving average is $143.79 and its 200-day moving average is $138.77. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period last year, the firm earned $0.90 EPS. Equities research analysts predict that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.49%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARES. Barclays increased their target price on shares of Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. TD Cowen boosted their price objective on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their target price on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group reduced their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company started coverage on Ares Management in a research report on Thursday. They set an “equal weight” rating and a $156.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned 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 “Hold” and an average target price of $141.42.

Hedge Funds Weigh In On Ares Management

A number of hedge funds have recently made changes to their positions in ARES. Dai ichi Life Insurance Company Ltd raised its holdings in Ares Management by 49.2% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 19,949 shares of the asset manager’s stock valued at $2,372,000 after acquiring an additional 6,576 shares during the last quarter. Grayhawk Investment Strategies Inc. acquired a new position in Ares Management during the fourth quarter worth $1,100,000. EP Wealth Advisors LLC grew its holdings in Ares Management by 32.5% in the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after buying an additional 4,996 shares in the last quarter. Norden Group LLC increased its stake in shares of Ares Management by 2,695.3% in the 1st quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock worth $9,364,000 after acquiring an additional 67,895 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Ares Management by 17.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after acquiring an additional 59,668 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

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.