Bennett Rosenthal Sells 20,048 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 20,048 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $167.44, for a total transaction of $3,356,837.12. Following the sale, the chairman now owns 229,952 shares in the company, valued at $38,503,162.88. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The shares were sold at an average price of $167.24, for a total value of $2,636,204.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The stock was sold at an average price of $143.05, for a total value of $10,728,750.00.
• 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 value of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The shares were 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.

Ares Management Stock Performance

Shares of NYSE:ARES opened at $170.35 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 12 month low of $105.89 and a 12 month high of $175.74. The company has a market capitalization of $53.33 billion, a price-to-earnings ratio of 78.50, a PEG ratio of 1.82 and a beta of 1.20. The firm’s 50-day moving average is $161.29 and its 200 day moving average is $148.24.

Ares Management (NYSE:ARES) last released its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Research analysts predict that Ares Management Co. will post 4.07 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.18%. Ares Management’s dividend payout ratio (DPR) is 171.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC boosted its position in Ares Management by 0.7% in the 3rd quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock valued at $1,798,000 after buying an additional 76 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Ares Management by 1.4% during the third quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock valued at $1,070,000 after acquiring an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Ares Management by 3.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 95 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Ares Management by 21.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after purchasing an additional 97 shares during the period. Finally, West Oak Capital LLC raised its position in Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price target on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Barclays upped their price objective on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, TD Cowen raised their target price on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.36.

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.