Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells $10,728,750.00 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The stock was sold at an average price of $142.66, for a total transaction 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 transaction of $1,963,908.96.
• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The shares were sold at an average price of $144.09, for a total transaction of $2,262,789.36.
• On Monday, August 19th, Bennett Rosenthal sold 10,154 shares of Ares Management stock. The shares were sold at an average price of $144.46, for a total transaction of $1,466,846.84.
• On Thursday, August 15th, Bennett Rosenthal sold 27,172 shares of Ares Management stock. The shares were sold at an average price of $145.67, for a total transaction of $3,958,145.24.
• On Friday, June 21st, Bennett Rosenthal sold 150,000 shares of Ares Management stock. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00.

Ares Management Stock Down 0.2 %

Ares Management stock opened at $152.43 on Thursday. The firm has a market cap of $47.23 billion, a price-to-earnings ratio of 68.35, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $155.65. The firm has a fifty day moving average price of $144.42 and a two-hundred day moving average price of $139.00.

Ares Management (NYSE:ARES) last released its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, analysts forecast that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.44%. Ares Management’s payout ratio is 166.82%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARES. Wells Fargo & Company began coverage on shares of Ares Management in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $150.00 target price on shares of Ares Management in a research report on Wednesday, May 22nd. Barclays increased their target price on shares of Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. UBS Group cut their target price on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ares Management has an average rating of “Hold” and an average price target of $141.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dai ichi Life Insurance Company Ltd increased its holdings in shares of Ares Management by 49.2% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 19,949 shares of the asset manager’s stock worth $2,372,000 after purchasing an additional 6,576 shares during the period. Grayhawk Investment Strategies Inc. bought a new stake in Ares Management in the fourth quarter valued at about $1,100,000. EP Wealth Advisors LLC increased its stake in Ares Management by 32.5% in the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after acquiring an additional 4,996 shares during the period. Norden Group LLC increased its stake in Ares Management by 2,695.3% in the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after acquiring an additional 67,895 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Ares Management by 17.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock valued at $52,831,000 after acquiring an additional 59,668 shares during the period. 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.