Ares Management Co. (NYSE:ARES) Insider David B. Kaplan Sells 18,259 Shares

Ares Management Co. (NYSE:ARES) insider David B. Kaplan sold 18,259 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $175.55, for a total value of $3,205,367.45. Following the completion of the transaction, the insider now directly owns 116,348 shares in the company, valued at $20,424,891.40. This represents a 13.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ares Management Stock Up 0.3 %

NYSE:ARES traded up $0.45 during trading hours on Friday, reaching $175.46. The company’s stock had a trading volume of 940,865 shares, compared to its average volume of 1,156,876. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $54.93 billion, a price-to-earnings ratio of 80.86, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20. Ares Management Co. has a one year low of $107.69 and a one year high of $176.83. The business’s 50-day moving average is $163.69 and its 200-day moving average is $149.13.

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, beating analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period last year, the business posted $0.83 EPS. Equities research analysts predict that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

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 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is presently 171.43%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ARES shares. Morgan Stanley increased their price target on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their target price on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. TD Cowen increased their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.36.

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently bought and sold shares of the business. Curated Wealth Partners LLC increased its stake in Ares Management by 199.7% in the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after acquiring an additional 3,321,434 shares during the period. LRI Investments LLC bought a new stake in shares of Ares Management in the 1st quarter worth about $264,729,000. Massachusetts Financial Services Co. MA increased its position in shares of Ares Management by 58.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after purchasing an additional 1,867,933 shares in the last quarter. Lone Pine Capital LLC acquired a new position in Ares Management in the second quarter valued at about $209,884,000. Finally, Millennium Management LLC grew its stake in Ares Management by 722.6% during the second quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after buying an additional 1,526,856 shares during the last quarter. 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.