Bennett Rosenthal Sells 29,198 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,198 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $175.82, for a total value of $5,133,592.36. Following the completion of the transaction, the chairman now directly owns 85,769 shares of the company’s stock, valued at $15,079,905.58. The trade was a 25.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, November 22nd, Bennett Rosenthal sold 18,389 shares of Ares Management stock. The stock was sold at an average price of $175.54, for a total transaction of $3,228,005.06.
• On Wednesday, November 20th, Bennett Rosenthal sold 26,336 shares of Ares Management stock. The shares were 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 shares were sold at an average price of $167.24, for a total transaction of $2,636,204.12.
• On Friday, November 15th, Bennett Rosenthal sold 20,048 shares of Ares Management stock. The shares were sold at an average price of $167.44, for a total value 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 transaction of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The shares were 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 stock was sold at an average price of $145.12, for a total value of $1,963,908.96.

Ares Management Stock Up 1.6 %

NYSE ARES traded up $2.78 on Tuesday, reaching $178.81. The company had a trading volume of 1,586,503 shares, compared to its average volume of 1,162,642. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $178.88. The firm has a 50-day moving average of $164.75 and a 200-day moving average of $149.78. The firm has a market capitalization of $55.98 billion, a PE ratio of 82.40, a P/E/G ratio of 1.91 and a beta of 1.20.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, equities research analysts anticipate that Ares Management Co. will post 4.06 EPS 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. Stockholders of record on Tuesday, December 17th will be paid 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 2.08%. Ares Management’s dividend payout ratio is presently 171.43%.

Analysts Set New Price Targets

A number of research firms have recently commented on ARES. TD Cowen upped their price objective on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada upped their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company upped their price target on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Six 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 stock has an average rating of “Moderate Buy” and a consensus target price of $166.36.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARES. Tidal Investments LLC grew its stake in Ares Management by 9.3% during the 3rd quarter. Tidal Investments LLC now owns 12,798 shares of the asset manager’s stock valued at $1,994,000 after purchasing an additional 1,091 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Ares Management by 53.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,620 shares of the asset manager’s stock valued at $1,655,000 after buying an additional 3,715 shares during the last quarter. Morse Asset Management Inc grew its position in shares of Ares Management by 0.7% during the third quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock worth $2,187,000 after buying an additional 95 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Ares Management during the third quarter worth approximately $2,036,000. Finally, Unigestion Holding SA bought a new stake in shares of Ares Management in the third quarter worth $641,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

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.