Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 29,292 Shares

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 29,292 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $175.82, for a total value of $5,150,119.44. Following the completion of the transaction, the chief executive officer now directly owns 86,909 shares of the company’s stock, valued at $15,280,340.38. The trade was a 25.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Trading Up 1.6 %

Shares of NYSE:ARES traded up $2.78 during midday trading on Tuesday, hitting $178.81. 1,586,503 shares of the stock traded hands, compared to its average volume of 1,162,642. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $164.75 and its two-hundred day moving average is $149.78. The stock has a market capitalization of $55.98 billion, a PE ratio of 82.40, a P/E/G ratio of 1.91 and a beta of 1.20. Ares Management Co. has a one year low of $107.69 and a one year high of $178.88.

Ares Management (NYSE:ARES) last released its quarterly 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. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter in the prior year, the company posted $0.83 EPS. As a group, research analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 2.08%. Ares Management’s dividend payout ratio is 171.43%.

Institutional Investors Weigh In On Ares Management

A number of large investors have recently modified their holdings of ARES. FMR LLC lifted its position in Ares Management by 1.0% during the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock valued at $982,058,000 after buying an additional 63,851 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Ares Management by 58.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after acquiring an additional 1,867,933 shares during the period. State Street Corp boosted its stake in Ares Management by 5.1% during the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock worth $596,318,000 after acquiring an additional 187,184 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ares Management by 6.3% in the third quarter. Geode Capital Management LLC now owns 2,950,451 shares of the asset manager’s stock worth $459,580,000 after purchasing an additional 175,627 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Ares Management by 31.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock worth $444,103,000 after purchasing an additional 678,549 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ARES. Morgan Stanley raised their target price on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Barclays increased their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their price objective on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, TD Cowen boosted their target price on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Six 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.com, the company has an average rating of “Moderate Buy” and a consensus 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.