Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 30,465 Shares

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 30,465 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $176.16, for a total value of $5,366,714.40. Following the transaction, the chief executive officer now owns 1,375,000 shares in the company, valued at $242,220,000. This trade represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ares Management Stock Down 1.6 %

Shares of ARES traded down $2.79 during mid-day trading on Monday, reaching $173.94. 898,548 shares of the stock traded hands, compared to its average volume of 1,158,677. The stock has a fifty day simple moving average of $166.32 and a 200 day simple moving average of $150.62. Ares Management Co. has a 12-month low of $107.69 and a 12-month high of $180.38. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a market cap of $54.45 billion, a price-to-earnings ratio of 80.16, a P/E/G ratio of 1.92 and a beta of 1.20.

Ares Management (NYSE:ARES) last released 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. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate 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 firm posted $0.83 EPS. Sell-side analysts expect that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Redburn Atlantic started coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective for the company. TD Cowen lifted their target price on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, UBS Group raised their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.36.

Institutional Trading of Ares Management

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in Ares Management during the third quarter valued at approximately $36,000. Eastern Bank acquired a new stake in shares of Ares Management during the 3rd quarter valued at approximately $39,000. West Oak Capital LLC lifted its stake in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Key Financial Inc acquired a new position in Ares Management in the second quarter worth $53,000. Finally, Industrial Alliance Investment Management Inc. increased its stake in Ares Management by 80.4% during the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 201 shares during the last quarter. 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.