Insider Selling: Ares Management Co. (NYSE:ARES) CEO Sells $2,793,739.20 in Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 19,040 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.73, for a total transaction of $2,793,739.20. Following the completion of the sale, the chief executive officer now owns 81,461 shares of the company’s stock, valued at $11,952,772.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Price Performance

ARES opened at $144.39 on Friday. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $155.53. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. The firm has a market cap of $44.73 billion, a price-to-earnings ratio of 64.75, a PEG ratio of 1.29 and a beta of 1.22. The company has a fifty day simple moving average of $142.03 and a 200 day simple moving average of $137.90.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The business had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. During the same period in the previous year, the company earned $0.90 earnings per share. Equities research analysts expect that Ares Management Co. will post 4.23 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

Institutional Trading of Ares Management

A number of hedge funds and other institutional investors have recently made changes to their positions in ARES. Compass Wealth Management LLC acquired a new position in Ares Management during the 1st quarter worth $28,000. Riverview Trust Co bought a new position in shares of Ares Management during the first quarter worth about $29,000. West Oak Capital LLC lifted its position in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Global Retirement Partners LLC grew its stake in Ares Management by 555.0% in the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after purchasing an additional 222 shares in the last quarter. Finally, J.Safra Asset Management Corp increased its holdings in Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after buying an additional 244 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ARES shares. JPMorgan Chase & Co. boosted their price objective on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Redburn Atlantic assumed coverage on Ares Management in a research note on Tuesday. They set a “neutral” rating and a $140.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Royal Bank of Canada reissued an “outperform” rating and set a $150.00 target price on shares of Ares Management in a research report on Wednesday, May 22nd. Finally, Barclays lifted their price target on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ares Management currently has a consensus rating of “Hold” and a consensus price target of $138.92.

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.