Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 18,232 Shares

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 18,232 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $175.54, for a total transaction of $3,200,445.28. Following the transaction, the chief executive officer now directly owns 116,201 shares in the company, valued at $20,397,923.54. The trade was a 13.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Ares Management Stock Up 0.3 %

ARES opened at $175.46 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $54.93 billion, a PE ratio of 80.86, a P/E/G ratio of 1.91 and a beta of 1.20. The stock’s fifty day moving average is $163.69 and its 200-day moving average is $149.13. Ares Management Co. has a one year low of $107.69 and a one year high of $176.83.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 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 analysts’ expectations of $833.58 million. During the same period in the previous year, the business earned $0.83 earnings per share. On average, equities analysts predict that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued 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 payout ratio is 171.43%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC grew its holdings in shares of Ares Management by 20.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,488 shares of the asset manager’s stock worth $1,129,000 after acquiring an additional 1,417 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Ares Management by 118.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,400 shares of the asset manager’s stock valued at $319,000 after purchasing an additional 1,300 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Ares Management by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 65,325 shares of the asset manager’s stock worth $8,693,000 after purchasing an additional 1,345 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Ares Management during the 1st quarter worth about $1,995,000. Finally, Natixis lifted its stake in Ares Management by 401.4% during the first quarter. Natixis now owns 10,273 shares of the asset manager’s stock valued at $1,366,000 after buying an additional 8,224 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ARES shares. JPMorgan Chase & Co. reduced their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Royal Bank of Canada lifted their price objective on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays increased their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. TD Cowen raised their target price on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Redburn Atlantic began coverage on Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.36.

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.