Ares Management Co. (NYSE:ARES) CEO Sells $2,261,649.50 in Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 15,695 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $144.10, for a total transaction of $2,261,649.50. Following the completion of the transaction, the chief executive officer now owns 156,241 shares of the company’s stock, valued at approximately $22,514,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ares Management Stock Performance

Shares of ARES stock traded down $1.00 during mid-day trading on Thursday, hitting $143.50. The stock had a trading volume of 806,899 shares, compared to its average volume of 1,141,453. The firm has a market cap of $44.46 billion, a PE ratio of 64.35, a PEG ratio of 1.29 and a beta of 1.22. The company’s 50-day simple moving average is $140.86 and its 200-day simple moving average is $137.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $155.53.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same quarter last year, the firm earned $0.90 earnings per share. Sell-side analysts anticipate that Ares Management Co. will post 4.23 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.59%. The ex-dividend date is Monday, September 16th. Ares Management’s payout ratio is currently 166.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARES. Compass Wealth Management LLC acquired a new stake in Ares Management during the 1st quarter valued at $28,000. Riverview Trust Co purchased a new stake in shares of Ares Management in the first quarter valued at $29,000. West Oak Capital LLC boosted its stake 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 valued at $33,000 after acquiring an additional 100 shares during the last quarter. Global Retirement Partners LLC increased its position in Ares Management by 555.0% during the 1st 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, TFO Wealth Partners LLC increased its position in Ares Management by 29,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock worth $35,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analysts Set New Price Targets

ARES has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. TD Cowen lifted their target price on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group decreased their price target on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Finally, Barclays lifted their price objective on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $138.82.

About Ares Management

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.