Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells 18,389 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 18,389 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $175.54, for a total transaction of $3,228,005.06. Following the completion of the transaction, the chairman now directly owns 114,967 shares in the company, valued at $20,181,307.18. This trade represents a 13.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Bennett Rosenthal also recently made the following trade(s):

• On Wednesday, November 20th, Bennett Rosenthal sold 26,336 shares of Ares Management stock. The shares were sold at an average price of $171.18, for a total transaction of $4,508,196.48.
• 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 shares were sold at an average price of $167.44, for a total value of $3,356,837.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The stock was 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 transaction of $1,963,908.96.

Ares Management Stock Up 0.3 %

Shares of NYSE ARES opened at $175.52 on Friday. 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 business has a 50-day moving average of $163.69 and a 200-day moving average of $149.21. The firm has a market capitalization of $54.95 billion, a price-to-earnings ratio of 80.88, a PEG ratio of 1.91 and a beta of 1.20. Ares Management Co. has a 12 month low of $107.69 and a 12 month high of $176.83.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the previous year, the company earned $0.83 EPS. Sell-side analysts expect that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company 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. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. Ares Management’s dividend payout ratio is presently 171.43%.

Institutional Investors Weigh In On Ares Management

A number of large investors have recently added to or reduced their stakes in ARES. Point72 DIFC Ltd bought a new position in shares of Ares Management during the 3rd quarter valued at about $36,000. Eastern Bank purchased a new stake in Ares Management in the third quarter worth approximately $39,000. West Oak Capital LLC grew 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 valued at $47,000 after acquiring an additional 100 shares during the last quarter. Key Financial Inc purchased a new position in shares of Ares Management during the second quarter worth approximately $53,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Ares Management in the 1st quarter worth approximately $54,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada lifted their price target on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. The Goldman Sachs Group increased their price objective on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company raised their target price on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Morgan Stanley upped 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. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.