Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells 20,048 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 20,048 shares of Ares Management stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $167.44, for a total transaction of $3,356,837.12. Following the transaction, the chairman now directly owns 229,952 shares in the company, valued at $38,503,162.88. This trade represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction of $2,636,204.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The shares were 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 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 value 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.

Ares Management Stock Up 1.7 %

NYSE:ARES traded up $2.92 during midday trading on Tuesday, reaching $170.35. The company had a trading volume of 723,417 shares, compared to its average volume of 1,157,421. Ares Management Co. has a 12-month low of $105.89 and a 12-month high of $175.74. The firm has a market capitalization of $53.33 billion, a price-to-earnings ratio of 77.19, a PEG ratio of 1.82 and a beta of 1.20. 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’s fifty day simple moving average is $161.29 and its 200-day simple moving average is $148.24.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) 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 business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter last year, the business posted $0.83 EPS. On average, sell-side analysts anticipate that Ares Management Co. will post 4.07 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on ARES shares. UBS Group increased their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley boosted their target price on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Barclays raised their price target on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and a consensus target price of $166.36.

Institutional Investors Weigh In On Ares Management

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Ares Management by 1.3% during the first quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock worth $2,207,381,000 after purchasing an additional 206,996 shares in the last quarter. FMR LLC boosted its position in shares of Ares Management by 1.0% during the 3rd quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock worth $982,058,000 after acquiring an additional 63,851 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Ares Management by 58.5% in 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 acquiring an additional 1,867,933 shares during the last quarter. State Street Corp raised its position in shares of Ares Management by 5.1% during the 3rd quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock worth $596,318,000 after acquiring an additional 187,184 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Ares Management by 6.3% during the third quarter. Geode Capital Management LLC now owns 2,950,451 shares of the asset manager’s stock worth $459,580,000 after purchasing an additional 175,627 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

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.