Ares Management Co. (NYSE:ARES) Chairman Sells $4,508,196.48 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 26,336 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $171.18, for a total value of $4,508,196.48. Following the completion of the sale, the chairman now directly owns 167,235 shares in the company, valued at $28,627,287.30. The trade was a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 value of $3,228,005.06.
• 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 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 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 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.

Ares Management Price Performance

Shares of NYSE ARES opened at $175.52 on Monday. The firm has a market cap of $54.95 billion, a P/E ratio of 80.88, a PEG ratio of 1.91 and a beta of 1.20. Ares Management Co. has a twelve month low of $107.69 and a twelve month high of $176.83. 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 company has a 50 day moving average of $163.69 and a 200 day moving average of $149.29.

Ares Management (NYSE:ARES) last posted its quarterly earnings results 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 firm 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. As a group, research analysts expect that Ares Management Co. will post 4.06 EPS for the current fiscal 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 issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is presently 171.43%.

Analysts Set New Price Targets

A number of research firms have weighed in on ARES. The Goldman Sachs Group upped their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Barclays increased 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley increased their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $166.36.

Institutional Trading of Ares Management

A number of large investors have recently made changes to their positions in ARES. MetLife Investment Management LLC boosted its holdings in Ares Management by 0.7% in the third quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock worth $1,798,000 after purchasing an additional 76 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Ares Management by 1.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock valued at $1,070,000 after buying an additional 89 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Ares Management by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock worth $399,000 after buying an additional 95 shares during the last quarter. Morse Asset Management Inc increased its position in Ares Management by 0.7% during the third quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock valued at $2,187,000 after acquiring an additional 95 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Ares Management by 21.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after acquiring an additional 97 shares during the period. 50.03% of the stock is currently owned by institutional investors.

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.