Ares Management Co. (NYSE:ARES) Chairman Sells $4,508,196.48 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 26,336 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $171.18, for a total transaction of $4,508,196.48. Following the transaction, the chairman now directly owns 167,235 shares in the company, valued at approximately $28,627,287.30. The trade was a 13.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, November 22nd, Bennett Rosenthal sold 18,389 shares of Ares Management stock. The shares were sold at an average price of $175.54, for a total transaction of $3,228,005.06.
• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The shares were 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 stock was 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 transaction 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 Ares Management stock traded up $0.45 on Friday, reaching $175.46. 940,865 shares of the company were exchanged, compared to its average volume of 1,156,876. The company has a market capitalization of $54.93 billion, a price-to-earnings ratio of 80.86, a PEG ratio of 1.85 and a beta of 1.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a one year low of $107.69 and a one year high of $176.83. The company has a 50-day moving average of $163.69 and a 200 day moving average of $149.13.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. During the same period in the prior year, the firm posted $0.83 earnings per share. On average, equities research analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Analysts Set New Price Targets

ARES has been the topic of a number of recent analyst reports. 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 report on Monday, November 4th. The Goldman Sachs Group increased their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley lifted their price target on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. UBS Group raised their price objective on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, TD Cowen increased their target price on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and an average price target of $166.36.

Institutional Trading of Ares Management

A number of hedge funds have recently made changes to their positions in ARES. MetLife Investment Management LLC raised its holdings in Ares Management by 0.7% in the 3rd quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock valued at $1,798,000 after acquiring an additional 76 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of Ares Management by 1.4% during the third quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock worth $1,070,000 after purchasing an additional 89 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Ares Management by 3.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock worth $399,000 after purchasing an additional 95 shares during the last quarter. Morse Asset Management Inc increased its position in Ares Management by 0.7% during the 3rd quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock worth $2,187,000 after buying an additional 95 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after buying an additional 97 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

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.