Ares Management Co. (NYSE:ARES) CEO Sells $5,366,714.40 in Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 30,465 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $176.16, for a total value of $5,366,714.40. Following the transaction, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at $242,220,000. This represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Stock Down 1.6 %

ARES stock traded down $2.79 during midday trading on Monday, reaching $173.94. The company had a trading volume of 898,548 shares, compared to its average volume of 1,158,677. The company has a 50 day moving average of $166.32 and a two-hundred day moving average of $150.62. 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 1 year low of $107.69 and a 1 year high of $180.38. The company has a market capitalization of $54.45 billion, a P/E ratio of 80.16, a PEG ratio of 1.92 and a beta of 1.20.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, equities research analysts expect that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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 dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is presently 171.43%.

Institutional Trading of Ares Management

A number of institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC grew its holdings in Ares Management by 0.7% during the third quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock valued at $1,798,000 after purchasing an additional 76 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Ares Management by 1.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock worth $1,070,000 after buying an additional 89 shares during the period. Sequoia Financial Advisors LLC grew its stake in Ares Management by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after buying an additional 95 shares during the last quarter. Morse Asset Management Inc raised its holdings in Ares Management by 0.7% in the 3rd quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock worth $2,187,000 after acquiring an additional 95 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Ares Management by 21.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after acquiring an additional 97 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARES has been the topic of several recent research reports. UBS Group lifted their price objective on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen increased their price objective on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Morgan Stanley increased their target price on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.36.

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.