Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 20,048 Shares

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 20,048 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $167.44, for a total transaction of $3,356,837.12. Following the sale, the chairman now owns 229,952 shares of the company’s stock, valued at approximately $38,503,162.88. This represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The shares were 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 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 stock was sold at an average price of $144.09, for a total transaction of $2,262,789.36.

Ares Management Trading Up 1.7 %

Shares of ARES stock opened at $170.35 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 12-month low of $105.89 and a 12-month high of $175.74. The stock 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 firm’s 50 day moving average is $161.29 and its 200 day moving average is $148.24.

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

Ares Management Dividend Announcement

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

Analyst Upgrades and Downgrades

ARES has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Barclays raised their price objective on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen boosted their target price on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price target on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company upped their price target 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. 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 a consensus price target of $166.36.

Hedge Funds Weigh In On Ares Management

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Unigestion Holding SA bought a new position in Ares Management in the third quarter worth approximately $641,000. TD Private Client Wealth LLC purchased a new stake in shares of Ares Management in the 3rd quarter worth $905,000. Virtue Capital Management LLC bought a new position in Ares Management in the 3rd quarter worth $234,000. Toronto Dominion Bank lifted its position in Ares Management by 31.2% during the third quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager’s stock valued at $3,545,000 after purchasing an additional 5,404 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Ares Management by 24.7% during the third quarter. Coldstream Capital Management Inc. now owns 2,237 shares of the asset manager’s stock valued at $354,000 after purchasing an additional 443 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

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.