Ares Management Co. (NYSE:ARES) Insider Sells $2,826,505.88 in Stock

Ares Management Co. (NYSE:ARES) insider David B. Kaplan sold 19,262 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.74, for a total value of $2,826,505.88. Following the completion of the transaction, the insider now directly owns 81,287 shares in the company, valued at $11,928,054.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Trading Down 0.6 %

NYSE ARES opened at $144.39 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $142.03 and a 200 day simple moving average of $137.90. Ares Management Co. has a 12 month low of $96.00 and a 12 month high of $155.53. The firm has a market capitalization of $44.73 billion, a P/E ratio of 64.75, a PEG ratio of 1.29 and a beta of 1.22.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. The firm had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same quarter in the prior year, the business posted $0.90 EPS. On average, analysts predict that Ares Management Co. will post 4.23 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.58%. Ares Management’s dividend payout ratio is currently 166.82%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Redburn Atlantic began coverage on Ares Management in a research note on Tuesday. They issued a “neutral” rating and a $140.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Finally, UBS Group cut their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $138.92.

Hedge Funds Weigh In On Ares Management

Institutional investors have recently modified their holdings of the business. Truist Financial Corp boosted its position in Ares Management by 2.0% in the second quarter. Truist Financial Corp now owns 617,846 shares of the asset manager’s stock worth $82,346,000 after purchasing an additional 12,007 shares during the last quarter. Chase Investment Counsel Corp raised its stake in shares of Ares Management by 1.3% during the 2nd quarter. Chase Investment Counsel Corp now owns 33,106 shares of the asset manager’s stock worth $4,412,000 after purchasing an additional 438 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Ares Management by 13.5% in the 2nd quarter. EP Wealth Advisors LLC now owns 23,094 shares of the asset manager’s stock worth $3,078,000 after buying an additional 2,749 shares during the last quarter. Quarry LP grew its position in Ares Management by 78.7% during the second quarter. Quarry LP now owns 806 shares of the asset manager’s stock valued at $107,000 after buying an additional 355 shares during the period. Finally, Granite FO LLC purchased a new stake in Ares Management during the second quarter worth about $1,027,000. 50.03% of the stock is owned by institutional investors.

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.