Bennett Rosenthal Sells 29,107 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,107 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $176.15, for a total value of $5,127,198.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 25th, Bennett Rosenthal sold 29,198 shares of Ares Management stock. The stock was sold at an average price of $175.82, for a total value of $5,133,592.36.
• 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 stock was 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 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 value 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.

Ares Management Price Performance

Shares of ARES opened at $176.93 on Thursday. The firm has a market cap of $55.39 billion, a price-to-earnings ratio of 81.53, a PEG ratio of 1.89 and a beta of 1.19. The stock has a 50 day moving average of $167.05 and a 200-day moving average of $151.01. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 52 week low of $107.69 and a 52 week high of $180.38.

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 the consensus estimate 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 last year, the business posted $0.83 EPS. As a group, analysts forecast that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is 171.43%.

Institutional Trading of Ares Management

Several hedge funds have recently added to or reduced their stakes in ARES. B. Riley Wealth Advisors Inc. raised its stake 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 valued at $470,000 after acquiring an additional 1,639 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Ares Management by 45.9% during the 1st 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 period. DekaBank Deutsche Girozentrale increased its position in shares of Ares Management by 5.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 44,145 shares of the asset manager’s stock valued at $5,850,000 after purchasing an additional 2,399 shares during the period. QRG Capital Management Inc. increased its position in shares of Ares Management by 40.9% during the 2nd quarter. QRG Capital Management Inc. now owns 2,298 shares of the asset manager’s stock valued at $306,000 after purchasing an additional 667 shares during the period. Finally, Curated Wealth Partners LLC increased its position in shares of Ares Management by 199.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after purchasing an additional 3,321,434 shares during the period. Institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ARES. Barclays increased their target price on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. StockNews.com upgraded Ares Management from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective 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. 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 research note on Monday, November 4th. Finally, Morgan Stanley raised their price objective on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” 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.