Ares Management Co. (NYSE:ARES) Insider Sells $1,509,607.00 in Stock

Ares Management Co. (NYSE:ARES) insider David B. Kaplan sold 10,450 shares of Ares Management stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $144.46, for a total transaction of $1,509,607.00. Following the transaction, the insider now directly owns 191,334 shares in the company, valued at $27,640,109.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ares Management Trading Down 0.2 %

NYSE:ARES opened at $144.48 on Thursday. The company has a market capitalization of $44.76 billion, a P/E ratio of 64.79, a PEG ratio of 1.29 and a beta of 1.22. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 12 month low of $96.00 and a 12 month high of $155.53. The firm has a fifty day simple moving average of $140.67 and a 200-day simple moving average of $137.33.

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

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARES. 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. Jefferies Financial Group reduced their target price on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a report on Thursday, May 9th. TD Cowen increased their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Finally, Barclays raised their target price on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $138.82.

Institutional Investors Weigh In On Ares Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. Curated Wealth Partners LLC grew its holdings in Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after acquiring an additional 3,321,434 shares during the period. LRI Investments LLC acquired a new stake in shares of Ares Management during the 1st quarter worth approximately $264,729,000. Massachusetts Financial Services Co. MA increased its holdings 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 valued at $674,183,000 after purchasing an additional 1,867,933 shares in the last quarter. Norges Bank acquired a new position in shares of Ares Management in the 4th quarter valued at $205,499,000. Finally, Lone Pine Capital LLC purchased a new stake in Ares Management during the second quarter worth $209,884,000. 50.03% of the stock is owned by institutional investors and hedge funds.

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.