Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells 26,336 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 26,336 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $171.18, for a total value of $4,508,196.48. Following the completion of the transaction, the chairman now directly owns 167,235 shares in the company, valued at approximately $28,627,287.30. This represents a 13.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction 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 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 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.

Ares Management Stock Up 0.3 %

NYSE:ARES opened at $175.52 on Friday. The stock has a market cap of $54.95 billion, a price-to-earnings ratio of 80.88, a PEG ratio of 1.91 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 has a 50-day moving average price of $163.69 and a two-hundred day moving average price of $149.21. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $176.83.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $0.83 EPS. As a group, equities analysts expect that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is presently 171.43%.

Analysts Set New Price Targets

Several brokerages have weighed in on ARES. JPMorgan Chase & Co. dropped 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. Redburn Atlantic started coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. Barclays lifted their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada increased their price target 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 lifted their price objective on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.36.

Hedge Funds Weigh In On Ares Management

A number of large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in shares of Ares Management during the third quarter worth about $36,000. Eastern Bank bought a new position in shares of Ares Management during the 3rd quarter worth approximately $39,000. West Oak Capital LLC raised its holdings in shares of Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Key Financial Inc bought a new stake in shares of Ares Management in the second quarter worth $53,000. Finally, EntryPoint Capital LLC acquired a new position in Ares Management during the first quarter worth $54,000. 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.