Ares Management Co. (NYSE:ARES) Chairman Sells $5,133,592.36 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,198 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $175.82, for a total transaction of $5,133,592.36. Following the sale, the chairman now owns 85,769 shares in the company, valued at $15,079,905.58. The trade was a 25.40 % decrease in their ownership of the stock. The sale was disclosed in a 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 transaction 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 shares were 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 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 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 shares were 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 $174.78 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $54.72 billion, a P/E ratio of 80.54, a P/E/G ratio of 1.92 and a beta of 1.20. The firm’s fifty day moving average is $165.56 and its 200 day moving average is $150.13. 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 data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period last year, the firm earned $0.83 earnings per share. Research analysts predict that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.13%. Ares Management’s payout ratio is currently 171.43%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ARES shares. Morgan Stanley raised their price target 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. The Goldman Sachs Group lifted their price objective on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Redburn Atlantic began coverage on Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. TD Cowen lifted their price target on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Barclays upped their price objective on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in Ares Management during the 3rd quarter valued at $36,000. Eastern Bank bought a new position in shares of Ares Management during the third quarter valued at about $39,000. West Oak Capital LLC boosted its holdings in shares of Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares during the period. Key Financial Inc bought a new stake in shares of Ares Management in the second quarter worth about $53,000. Finally, Industrial Alliance Investment Management Inc. increased its holdings in Ares Management by 80.4% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 201 shares during the period. Institutional investors own 50.03% of the company’s stock.

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.