Insider Selling: Ares Management Co. (NYSE:ARES) Insider Sells $6,719,600.00 in Stock

Ares Management Co. (NYSE:ARES) insider Ryan Berry sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the completion of the transaction, the insider now owns 304,202 shares in the company, valued at approximately $51,102,893.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ryan Berry also recently made the following trade(s):

• On Friday, October 4th, Ryan Berry sold 20,000 shares of Ares Management stock. The stock was sold at an average price of $160.07, for a total transaction of $3,201,400.00.
• On Wednesday, September 18th, Ryan Berry sold 12,500 shares of Ares Management stock. The stock was sold at an average price of $154.40, for a total transaction of $1,930,000.00.
• On Monday, September 16th, Ryan Berry sold 12,500 shares of Ares Management stock. The stock was sold at an average price of $148.42, for a total transaction of $1,855,250.00.
• On Thursday, September 12th, Ryan Berry sold 1 shares of Ares Management stock. The stock was sold at an average price of $144.01, for a total transaction of $144.01.
• On Monday, September 9th, Ryan Berry sold 10,000 shares of Ares Management stock. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00.
• On Thursday, September 5th, Ryan Berry sold 57,500 shares of Ares Management stock. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00.

Ares Management Trading Down 0.7 %

ARES stock traded down $1.25 on Monday, reaching $168.64. The company’s stock had a trading volume of 888,049 shares, compared to its average volume of 1,148,109. The business has a fifty day simple moving average of $151.00 and a two-hundred day simple moving average of $143.03. Ares Management Co. has a 12-month low of $96.00 and a 12-month high of $171.76. The firm has a market cap of $52.25 billion, a PE ratio of 76.18, a PEG ratio of 1.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The company had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, research analysts forecast that Ares Management Co. will post 4.16 EPS for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.21%. Ares Management’s dividend payout ratio (DPR) is 166.82%.

Hedge Funds Weigh In On Ares Management

A number of institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in Ares Management by 21.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after purchasing an additional 97 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Ares Management by 7.2% during the third quarter. Whittier Trust Co. now owns 2,265 shares of the asset manager’s stock valued at $353,000 after acquiring an additional 152 shares in the last quarter. Berry Wealth Group LP bought a new position in shares of Ares Management during the third quarter valued at $207,000. New Century Financial Group LLC bought a new position in shares of Ares Management during the third quarter valued at $248,000. Finally, Embree Financial Group bought a new position in shares of Ares Management during the third quarter valued at $204,000. Institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARES. Redburn Atlantic began coverage on Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. TD Cowen upped their target price on Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their price objective on Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, Barclays increased their price objective on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ares Management has a consensus rating of “Moderate Buy” and an average price target of $155.82.

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.