Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 29,292 Shares of Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 29,292 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $175.82, for a total transaction of $5,150,119.44. Following the transaction, the chief executive officer now owns 86,909 shares of the company’s stock, valued at approximately $15,280,340.38. This trade represents a 25.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ares Management Stock Performance

NYSE:ARES opened at $178.81 on Wednesday. The company’s 50-day moving average is $164.75 and its two-hundred day moving average is $149.78. The firm has a market capitalization of $55.98 billion, a price-to-earnings ratio of 82.40, a PEG ratio of 1.91 and a beta of 1.20. 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.

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. Analysts forecast that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.08%. Ares Management’s payout ratio is currently 171.43%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada increased their target price on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. TD Cowen increased their price objective on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their target price 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. Finally, UBS Group boosted their price target on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.36.

Institutional Inflows and Outflows

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

Ares Management Company Profile

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.