Ares Management Co. (NYSE:ARES) CEO Sells $2,793,739.20 in Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 19,040 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.73, for a total value of $2,793,739.20. Following the completion of the sale, the chief executive officer now directly owns 81,461 shares of the company’s stock, valued at $11,952,772.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Ares Management Stock Down 0.6 %

Shares of ARES stock traded down $0.82 during trading hours on Tuesday, reaching $146.14. The company had a trading volume of 967,254 shares, compared to its average volume of 1,138,111. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $155.53. The company has a market capitalization of $45.28 billion, a P/E ratio of 65.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The stock’s fifty day simple moving average is $141.63 and its 200 day simple moving average is $137.81.

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, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The business had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, sell-side analysts expect that Ares Management Co. will post 4.23 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.55%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Institutional Investors Weigh In On Ares Management

A number of hedge funds have recently bought and sold shares of the business. Gulf International Bank UK Ltd lifted its holdings in Ares Management by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock worth $1,784,000 after buying an additional 90 shares during the last quarter. West Oak Capital LLC lifted its holdings in Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Ares Management by 10.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock worth $143,000 after buying an additional 105 shares during the last quarter. Americana Partners LLC lifted its holdings in Ares Management by 7.2% during the 2nd quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock worth $215,000 after buying an additional 108 shares during the last quarter. Finally, Chase Investment Counsel Corp lifted its holdings in Ares Management by 0.4% during the 1st quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock worth $4,344,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARES shares. JPMorgan Chase & Co. lifted their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group cut their price target on Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Redburn Atlantic began coverage on Ares Management in a report on Tuesday. They issued a “neutral” rating and a $140.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Finally, TD Cowen boosted their price target on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $138.92.

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.