Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells $3,958,145.24 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 27,172 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the completion of the sale, the chairman now directly owns 222,828 shares in the company, valued at approximately $32,459,354.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Bennett Rosenthal also recently made the following trade(s):

• On Monday, August 19th, Bennett Rosenthal sold 10,154 shares of Ares Management stock. The shares were sold at an average price of $144.46, for a total transaction of $1,466,846.84.
• On Friday, June 21st, Bennett Rosenthal sold 150,000 shares of Ares Management stock. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00.
• On Friday, May 31st, Bennett Rosenthal sold 100,000 shares of Ares Management stock. The stock was sold at an average price of $140.41, for a total value of $14,041,000.00.

Ares Management Price Performance

Shares of ARES opened at $144.48 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day moving average price of $140.67 and a 200-day moving average price of $137.33. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $155.53. The stock has a market capitalization of $44.76 billion, a PE ratio of 64.79, a PEG ratio of 1.29 and a beta of 1.22.

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, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same quarter last year, the firm earned $0.90 EPS. Equities analysts predict that Ares Management Co. will post 4.23 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.93 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.57%. Ares Management’s dividend payout ratio is presently 166.82%.

Institutional Trading of Ares Management

Several hedge funds have recently modified their holdings of the company. Curated Wealth Partners LLC raised its stake in shares of Ares Management by 199.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after acquiring an additional 3,321,434 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Ares Management during the first quarter worth $264,729,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 purchasing an additional 1,867,933 shares during the last quarter. Norges Bank acquired a new stake in shares of Ares Management in the 4th quarter worth $205,499,000. Finally, Lone Pine Capital LLC acquired a new stake in shares of Ares Management in the 2nd quarter worth $209,884,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARES. Barclays upped their price objective on Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group reduced their price target on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group lowered their price objective on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. upped their target price on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, TD Cowen lifted their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $138.82.

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.