Ares Management Co. (NYSE:ARES) Chairman Sells $6,486,000.00 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 50,000 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $129.72, for a total value of $6,486,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ares Management Stock Down 0.9 %

Shares of NYSE ARES opened at $129.53 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $40.10 billion, a PE ratio of 54.20, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The stock’s fifty day simple moving average is $133.22 and its two-hundred day simple moving average is $119.73. Ares Management Co. has a 12-month low of $77.97 and a 12-month high of $139.48.

Ares Management (NYSE:ARES) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.11. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $862.71 million. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. During the same quarter last year, the firm earned $1.21 EPS. As a group, analysts expect that Ares Management Co. will post 4.49 EPS for the current fiscal year.

Ares Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.93 dividend. This is a boost from Ares Management’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.87%. Ares Management’s dividend payout ratio (DPR) is presently 155.65%.

Institutional Trading of Ares Management

Institutional investors have recently made changes to their positions in the business. Artemis Investment Management LLP boosted its position in shares of Ares Management by 24.5% in the 4th quarter. Artemis Investment Management LLP now owns 149,920 shares of the asset manager’s stock worth $17,829,000 after purchasing an additional 29,457 shares in the last quarter. Triasima Portfolio Management inc. boosted its position in shares of Ares Management by 31.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 66,950 shares of the asset manager’s stock worth $7,962,000 after purchasing an additional 16,010 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Ares Management by 2.0% in the 3rd quarter. Nordea Investment Management AB now owns 10,512 shares of the asset manager’s stock worth $1,109,000 after purchasing an additional 202 shares in the last quarter. Genesee Capital Advisors LLC acquired a new stake in Ares Management during the 4th quarter worth about $1,268,000. Finally, Hudson Bay Capital Management LP lifted its position in Ares Management by 11.1% during the 3rd quarter. Hudson Bay Capital Management LP now owns 125,000 shares of the asset manager’s stock worth $12,859,000 after acquiring an additional 12,500 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analysts Set New Price Targets

ARES has been the topic of several analyst reports. Jefferies Financial Group downgraded Ares Management from a “buy” rating to a “hold” rating and set a $122.00 target price on the stock. in a research report on Tuesday, January 9th. JPMorgan Chase & Co. increased their price target on Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Wells Fargo & Company increased their price target on Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Barclays reduced their price target on Ares Management from $157.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Finally, UBS Group raised their price objective on Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Ares Management presently has an average rating of “Hold” and an average target price of $126.17.

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.