Bennett Rosenthal Sells 15,763 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 15,763 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $167.24, for a total transaction of $2,636,204.12. Following the sale, the chairman now directly owns 214,189 shares of the company’s stock, valued at approximately $35,820,968.36. The trade was a 6.85 % 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 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 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 transaction 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 Stock Performance

Shares of NYSE:ARES opened at $171.89 on Thursday. The firm has a market cap of $53.81 billion, a PE ratio of 79.21, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The firm’s 50 day simple moving average is $161.90 and its 200-day simple moving average is $148.51. Ares Management Co. has a one year low of $105.89 and a one year high of $175.74. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion for 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 period last year, the company posted $0.83 earnings per share. As a group, equities analysts predict that Ares Management Co. will post 4.07 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.16%. Ares Management’s dividend payout ratio is presently 171.43%.

Hedge Funds Weigh In On Ares Management

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC boosted its stake in shares of Ares Management by 0.7% during the third quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock valued at $1,798,000 after purchasing an additional 76 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Ares Management by 1.4% during the third quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock valued at $1,070,000 after purchasing an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Ares Management by 3.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 95 shares in the last quarter. Morse Asset Management Inc boosted its stake in shares of 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 in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 97 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their target price 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. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price on the stock. TD Cowen upped their target price on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, UBS Group upped their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.