Bennett Rosenthal Sells 29,107 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,107 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $176.15, for a total transaction of $5,127,198.05. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, November 25th, Bennett Rosenthal sold 29,198 shares of Ares Management stock. The stock was sold at an average price of $175.82, for a total transaction of $5,133,592.36.
• On Friday, November 22nd, Bennett Rosenthal sold 18,389 shares of Ares Management stock. The shares were sold at an average price of $175.54, for a total value of $3,228,005.06.
• On Wednesday, November 20th, Bennett Rosenthal sold 26,336 shares of Ares Management stock. The stock was sold at an average price of $171.18, for a total transaction of $4,508,196.48.
• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The stock was sold at an average price of $167.24, for a total value of $2,636,204.12.
• On Friday, November 15th, Bennett Rosenthal sold 20,048 shares of Ares Management stock. The stock was sold at an average price of $167.44, for a total transaction of $3,356,837.12.
• 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.

Ares Management Price Performance

Shares of Ares Management stock traded down $2.79 on Monday, hitting $173.94. 898,548 shares of the company were exchanged, compared to its average volume of 1,158,677. Ares Management Co. has a 1-year low of $107.69 and a 1-year high of $180.38. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $54.45 billion, a price-to-earnings ratio of 80.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. The company has a 50-day moving average price of $166.32 and a 200 day moving average price of $150.62.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same period in the prior year, the business posted $0.83 earnings per share. As a group, sell-side analysts predict that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.14%. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Analyst Upgrades and Downgrades

Several analysts have commented on ARES shares. JPMorgan Chase & Co. decreased their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley lifted their price target on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, UBS Group upped their price objective on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.36.

Institutional Investors Weigh In On Ares Management

Several hedge funds and other institutional investors have recently bought and sold shares of ARES. Point72 DIFC Ltd purchased a new stake in Ares Management in the third quarter valued at approximately $36,000. Eastern Bank purchased a new position in Ares Management during the 3rd quarter worth $39,000. West Oak Capital LLC increased its stake in Ares Management by 40.0% in the second 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 during the period. Key Financial Inc purchased a new stake in shares of Ares Management in the second quarter valued at about $53,000. Finally, Industrial Alliance Investment Management Inc. boosted its stake in shares of Ares Management by 80.4% during the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after buying an additional 201 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

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.