Ares Management Co. (NYSE:ARES) CEO Sells $5,366,714.40 in Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 30,465 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $176.16, for a total value of $5,366,714.40. Following the completion of the sale, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at approximately $242,220,000. The trade was a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ares Management Stock Performance

Shares of ARES opened at $173.94 on Tuesday. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $180.38. The company’s fifty day moving average is $166.32 and its two-hundred day moving average is $150.62. The stock has a market capitalization of $54.45 billion, a P/E ratio of 80.16, 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.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping 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 business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same period in the prior year, the company posted $0.83 EPS. On average, sell-side analysts predict 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 2.14%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

Institutional Trading of Ares Management

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in shares of Ares Management during the third quarter valued at approximately $36,000. Eastern Bank acquired a new position in Ares Management during the third quarter worth approximately $39,000. West Oak Capital LLC increased its position in 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 last quarter. Key Financial Inc acquired a new position in shares of Ares Management in the 2nd quarter valued at $53,000. Finally, Industrial Alliance Investment Management Inc. boosted its holdings in shares of Ares Management by 80.4% in 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 last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ARES. Redburn Atlantic initiated coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. UBS Group upped their price target on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price target on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Barclays raised their price objective 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. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and an average target price of $166.36.

Ares Management Company Profile

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.