Ares Management Co. (NYSE:ARES) Chairman Sells $4,508,196.48 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 26,336 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $171.18, for a total value of $4,508,196.48. Following the sale, the chairman now directly owns 167,235 shares of the company’s stock, valued at $28,627,287.30. The trade was a 13.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, November 22nd, Bennett Rosenthal sold 18,389 shares of Ares Management stock. The shares were sold at an average price of $175.54, for a total value of $3,228,005.06.
• 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 transaction 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.

Ares Management Price Performance

ARES stock opened at $175.52 on Monday. The firm has a 50 day moving average of $163.69 and a 200-day moving average of $149.29. 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 firm has a market capitalization of $54.95 billion, a P/E ratio of 80.88, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. Ares Management Co. has a 12 month low of $107.69 and a 12 month high of $176.83.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same period in the previous year, the business earned $0.83 EPS. As a group, sell-side analysts predict that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm 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 $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.12%. Ares Management’s payout ratio is currently 171.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Morse Asset Management Inc lifted its position in Ares Management by 0.7% during the third quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock valued at $2,187,000 after purchasing an additional 95 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Ares Management during the 3rd quarter valued at $2,036,000. Unigestion Holding SA bought a new stake in shares of Ares Management during the 3rd quarter worth $641,000. TD Private Client Wealth LLC purchased a new position in Ares Management in the third quarter worth $905,000. Finally, Virtue Capital Management LLC bought a new position in Ares Management in the third quarter valued at $234,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ARES. Wells Fargo & Company increased their price objective on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Barclays boosted their price objective on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. TD Cowen lifted their target price 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research 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.com, the company 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.