Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells 29,198 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,198 shares of Ares Management stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $175.82, for a total value of $5,133,592.36. Following the completion of the sale, the chairman now directly owns 85,769 shares in the company, valued at approximately $15,079,905.58. This represents a 25.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $175.54, for a total transaction of $3,228,005.06.
• On Wednesday, November 20th, Bennett Rosenthal sold 26,336 shares of Ares Management stock. The stock was sold at an average price of $171.18, for a total transaction of $4,508,196.48.
• 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 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 stock was sold at an average price of $145.12, for a total value of $1,963,908.96.

Ares Management Stock Performance

ARES opened at $178.81 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day simple moving average of $164.75 and a 200 day simple moving average of $149.78. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $178.88. The company has a market capitalization of $55.98 billion, a PE ratio of 82.40, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20.

Ares Management (NYSE:ARES) last announced its 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. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. Research analysts expect that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.08%. Ares Management’s dividend payout ratio is presently 171.43%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARES. Royal Bank of Canada boosted their target price 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. Wells Fargo & Company boosted their price objective on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their target price on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Barclays boosted their price target on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.36.

Institutional Investors Weigh In On Ares Management

Several institutional investors have recently made changes to their positions in ARES. LRI Investments LLC acquired a new position in Ares Management in the 1st quarter valued at $264,729,000. Janus Henderson Group PLC increased its position in shares of Ares Management by 19.3% in the first quarter. Janus Henderson Group PLC now owns 834,615 shares of the asset manager’s stock worth $110,986,000 after purchasing an additional 134,842 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Ares Management by 86.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,536 shares of the asset manager’s stock valued at $470,000 after purchasing an additional 1,639 shares in the last quarter. Tidal Investments LLC lifted its position in Ares Management by 280.1% during the first quarter. Tidal Investments LLC now owns 16,309 shares of the asset manager’s stock worth $2,169,000 after purchasing an additional 12,018 shares during the period. Finally, Citizens Financial Group Inc. RI grew its stake in Ares Management by 59.8% during the first quarter. Citizens Financial Group Inc. RI now owns 5,739 shares of the asset manager’s stock worth $767,000 after buying an additional 2,147 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

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.