Ares Management Co. (NYSE:ARES) Insider David B. Kaplan Sells 26,518 Shares

Ares Management Co. (NYSE:ARES) insider David B. Kaplan sold 26,518 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $171.18, for a total value of $4,539,351.24. Following the completion of the sale, the insider now directly owns 167,891 shares of the company’s stock, valued at $28,739,581.38. The trade was a 13.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Ares Management Stock Up 0.3 %

Shares of NYSE ARES opened at $175.46 on Friday. The stock has a market capitalization of $54.93 billion, a price-to-earnings ratio of 80.86, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. Ares Management Co. has a 52 week low of $107.69 and a 52 week high of $176.83. The firm has a 50-day moving average price of $163.69 and a 200 day moving average price of $149.13. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last announced 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 return on equity of 19.89% and a net margin of 12.51%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the previous year, the company earned $0.83 EPS. Equities research analysts anticipate that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.12%. Ares Management’s dividend payout ratio is presently 171.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ARES shares. Redburn Atlantic initiated 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. The Goldman Sachs Group increased their price target 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. JPMorgan Chase & Co. decreased their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada upped their price objective on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Ares Management presently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

Hedge Funds Weigh In On Ares Management

Several hedge funds have recently added to or reduced their stakes in the business. Morse Asset Management Inc grew its holdings in Ares Management by 0.7% during the 3rd quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock valued at $2,187,000 after buying an additional 95 shares during the last quarter. Virtu Financial LLC purchased a new stake in Ares Management during the 3rd quarter worth about $2,036,000. Unigestion Holding SA acquired a new position in Ares Management in the 3rd quarter valued at about $641,000. TD Private Client Wealth LLC purchased a new position in Ares Management in the 3rd quarter valued at about $905,000. Finally, Virtue Capital Management LLC acquired a new stake in shares of Ares Management during the 3rd quarter worth about $234,000. 50.03% of the stock is currently owned by hedge funds and other 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.