Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells $5,127,198.05 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,107 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $176.15, for a total value of $5,127,198.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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 value of $5,133,592.36.
• 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 value 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 value 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 value 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 shares were 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 shares were sold at an average price of $142.66, for a total value of $3,791,760.14.

Ares Management Price Performance

Shares of NYSE ARES opened at $176.93 on Thursday. 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 twelve month low of $107.69 and a twelve month high of $180.38. The stock has a 50 day moving average of $167.05 and a two-hundred day moving average of $151.01. The stock has a market cap of $55.39 billion, a P/E ratio of 81.53, a P/E/G ratio of 1.89 and a beta of 1.19.

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, 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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, research analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared 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. This represents a $3.72 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Institutional Investors Weigh In On Ares Management

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in shares of Ares Management by 6.5% during the third quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock worth $10,195,000 after purchasing an additional 4,000 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Ares Management by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock worth $25,674,000 after purchasing an additional 38,047 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Ares Management by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock worth $106,436,000 after purchasing an additional 36,476 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Ares Management by 45.9% during the first quarter. Cetera Investment Advisers now owns 82,717 shares of the asset manager’s stock worth $11,000,000 after purchasing an additional 26,012 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Ares Management during the third quarter worth approximately $900,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARES. JPMorgan Chase & Co. lowered their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. StockNews.com raised Ares Management from a “sell” rating to a “hold” rating in a research report on Tuesday. UBS Group boosted their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Redburn Atlantic started coverage on Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Finally, Morgan Stanley boosted their target price on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” 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.