Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 29,198 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,198 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was 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 of the company’s stock, valued at approximately $15,079,905.58. This represents a 25.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $175.54, for a total value 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 value 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 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 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 shares were sold at an average price of $145.12, for a total value of $1,963,908.96.

Ares Management Price Performance

Shares of ARES opened at $178.81 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $55.98 billion, a P/E ratio of 82.40, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The stock’s 50-day moving average price is $164.75 and its two-hundred day moving average price is $149.78. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $178.88.

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

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is currently 171.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. LRI Investments LLC bought a new stake in shares of Ares Management in the first quarter worth about $264,729,000. Janus Henderson Group PLC increased its stake in Ares Management by 19.3% during the 1st quarter. Janus Henderson Group PLC now owns 834,615 shares of the asset manager’s stock worth $110,986,000 after purchasing an additional 134,842 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Ares Management by 86.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,536 shares of the asset manager’s stock worth $470,000 after buying an additional 1,639 shares during the period. Tidal Investments LLC lifted its stake in Ares Management by 280.1% in the first quarter. Tidal Investments LLC now owns 16,309 shares of the asset manager’s stock valued at $2,169,000 after buying an additional 12,018 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Ares Management by 59.8% in the first quarter. Citizens Financial Group Inc. RI now owns 5,739 shares of the asset manager’s stock valued at $767,000 after buying an additional 2,147 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ARES shares. Redburn Atlantic initiated coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. TD Cowen boosted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group increased their price objective on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, 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. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Ares Management 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.