Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 15,763 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 15,763 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $167.24, for a total transaction of $2,636,204.12. Following the transaction, the chairman now owns 214,189 shares in the company, valued at $35,820,968.36. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction 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 transaction of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The shares were sold at an average price of $142.66, for a total value 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 value of $1,963,908.96.
• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The stock was sold at an average price of $144.09, for a total value of $2,262,789.36.

Ares Management Stock Performance

Shares of Ares Management stock opened at $170.35 on Wednesday. Ares Management Co. has a 12 month low of $105.89 and a 12 month high of $175.74. The firm has a market capitalization of $53.33 billion, a P/E ratio of 78.50, a P/E/G ratio of 1.82 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. The business has a fifty day simple moving average of $161.29 and a two-hundred day simple moving average of $148.24.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period last year, the company posted $0.83 EPS. On average, equities analysts forecast that Ares Management Co. will post 4.07 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.18%. Ares Management’s payout ratio is currently 171.43%.

Analyst Ratings Changes

Several brokerages recently commented on ARES. UBS Group lifted their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. 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. Barclays raised their target price on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $166.36.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new stake in shares of Ares Management in the third quarter worth $36,000. Eastern Bank purchased a new stake in Ares Management during the 3rd quarter valued at about $39,000. West Oak Capital LLC raised its holdings in Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Key Financial Inc bought a new position in shares of Ares Management in the second quarter worth approximately $53,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Ares Management during the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

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.