Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells 75,000 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 75,000 shares of Ares Management stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The stock was sold at an average price of $142.66, for a total transaction of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The stock was sold at an average price of $145.12, for a total transaction of $1,963,908.96.
• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The stock was sold at an average price of $144.09, for a total transaction of $2,262,789.36.
• On Monday, August 19th, Bennett Rosenthal sold 10,154 shares of Ares Management stock. The stock was sold at an average price of $144.46, for a total transaction of $1,466,846.84.
• On Thursday, August 15th, Bennett Rosenthal sold 27,172 shares of Ares Management stock. The stock was sold at an average price of $145.67, for a total transaction of $3,958,145.24.
• On Friday, June 21st, Bennett Rosenthal sold 150,000 shares of Ares Management stock. The shares were sold at an average price of $131.94, for a total value of $19,791,000.00.

Ares Management Stock Down 0.2 %

ARES stock opened at $152.43 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $144.42 and a two-hundred day moving average price of $139.00. The company has a market cap of $47.23 billion, a price-to-earnings ratio of 68.35, a P/E/G ratio of 1.33 and a beta of 1.21. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $155.65.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The firm had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same period last year, the company earned $0.90 earnings per share. Analysts anticipate that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.93 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.44%. Ares Management’s payout ratio is 166.82%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARES. Deutsche Bank Aktiengesellschaft decreased their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $150.00 price objective on shares of Ares Management in a report on Wednesday, May 22nd. TD Cowen increased their price objective on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, UBS Group decreased their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $141.42.

Institutional Trading of Ares Management

A number of hedge funds have recently made changes to their positions in the business. Gulf International Bank UK Ltd lifted its position in shares of Ares Management by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock valued at $1,784,000 after buying an additional 90 shares during the last quarter. West Oak Capital LLC lifted its position in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Ares Management by 10.8% in the second quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock valued at $143,000 after buying an additional 105 shares during the last quarter. Americana Partners LLC lifted its position in shares of Ares Management by 7.2% in the second quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock valued at $215,000 after buying an additional 108 shares during the last quarter. Finally, Chase Investment Counsel Corp lifted its holdings in Ares Management by 0.4% during the 1st quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock worth $4,344,000 after purchasing an additional 115 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

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.