Ares Management Co. (NYSE:ARES) Chairman Sells $2,636,204.12 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 15,763 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $167.24, for a total value of $2,636,204.12. Following the sale, the chairman now owns 214,189 shares in the company, valued at approximately $35,820,968.36. This represents a 6.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, November 15th, Bennett Rosenthal sold 20,048 shares of Ares Management stock. The shares were sold at an average price of $167.44, for a total transaction 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.
• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The shares were sold at an average price of $144.09, for a total transaction of $2,262,789.36.

Ares Management Price Performance

ARES stock traded up $2.92 during trading on Tuesday, reaching $170.35. The company’s stock had a trading volume of 723,417 shares, compared to its average volume of 1,157,421. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average is $161.29 and its 200-day moving average is $148.24. The company has a market capitalization of $53.33 billion, a P/E ratio of 77.19, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. Ares Management Co. has a 1 year low of $105.89 and a 1 year high of $175.74.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, research analysts expect that Ares Management Co. will post 4.07 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.18%. Ares Management’s dividend payout ratio (DPR) is currently 171.43%.

Institutional Trading of Ares Management

Several hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new position in shares of Ares Management in the 3rd quarter worth approximately $36,000. Eastern Bank purchased a new position in Ares Management during the third quarter worth $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 valued at $47,000 after acquiring an additional 100 shares during the last quarter. Key Financial Inc bought a new position in Ares Management during the second quarter valued at $53,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Ares Management in the first quarter valued at $54,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARES has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. TD Cowen lifted their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Redburn Atlantic assumed coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Finally, Barclays upped their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

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.