Ares Management Co. (NYSE:ARES) Insider Sells $14,998,848.66 in Stock

Ares Management Co. (NYSE:ARES) insider R. Kipp Deveer sold 78,933 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $190.02, for a total value of $14,998,848.66. Following the transaction, the insider now owns 1,150,000 shares in the company, valued at approximately $218,523,000. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

R. Kipp Deveer also recently made the following trade(s):

• On Friday, December 6th, R. Kipp Deveer sold 115,838 shares of Ares Management stock. The shares were sold at an average price of $177.83, for a total transaction of $20,599,471.54.

Ares Management Price Performance

Shares of NYSE ARES opened at $182.70 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a fifty-two week low of $125.23 and a fifty-two week high of $200.49. The stock has a market cap of $57.20 billion, a PE ratio of 90.00, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. The stock has a fifty day moving average of $184.22 and a 200-day moving average of $166.47.

Ares Management (NYSE:ARES) last posted its earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. Equities research analysts anticipate that Ares Management Co. will post 5.53 earnings per share for the current year.

Ares Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $1.12 dividend. The ex-dividend date is Monday, March 17th. This is a boost from Ares Management’s previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a yield of 2.45%. Ares Management’s dividend payout ratio is currently 183.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Ares Management in the 4th quarter valued at about $144,000. World Investment Advisors bought a new stake in shares of Ares Management in the 4th quarter worth approximately $305,000. Nicolet Advisory Services LLC raised its holdings in Ares Management by 13.4% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,763 shares of the asset manager’s stock worth $309,000 after purchasing an additional 209 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in shares of Ares Management in the 4th quarter worth about $807,000. Finally, Huntington National Bank boosted its stake in shares of Ares Management by 9.8% during the 4th quarter. Huntington National Bank now owns 704 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 63 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARES. Barclays reduced their price objective on shares of Ares Management from $224.00 to $217.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price target on Ares Management from $207.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JMP Securities restated a “market perform” rating on shares of Ares Management in a research note on Thursday, February 6th. Finally, TD Cowen raised their target price on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and a consensus price target of $176.17.

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.