Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 29,292 Shares

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 29,292 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $175.82, for a total value of $5,150,119.44. Following the sale, the chief executive officer now owns 86,909 shares in the company, valued at $15,280,340.38. The trade was a 25.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Ares Management Stock Performance

Shares of Ares Management stock opened at $174.78 on Thursday. Ares Management Co. has a one year low of $107.69 and a one year high of $180.38. The company has a market capitalization of $54.72 billion, a PE ratio of 80.54, a P/E/G ratio of 1.92 and a beta of 1.20. 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 company has a 50-day simple moving average of $165.19 and a two-hundred day simple moving average of $149.96.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the business posted $0.83 EPS. Research analysts expect that Ares Management Co. will post 4.06 EPS for the current fiscal 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 given a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.13%. Ares Management’s payout ratio is 171.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARES. Point72 DIFC Ltd purchased a new stake in shares of Ares Management during the third quarter worth about $36,000. Eastern Bank acquired a new stake in Ares Management in the 3rd quarter worth approximately $39,000. West Oak Capital LLC grew its position in Ares Management by 40.0% during the 2nd 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 last quarter. Key Financial Inc acquired a new position in Ares Management during the 2nd quarter valued at approximately $53,000. Finally, Industrial Alliance Investment Management Inc. raised its holdings in shares of Ares Management by 80.4% in the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after buying an additional 201 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada increased their target price on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Morgan Stanley raised their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently 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.