Aghili Naseem Sagati Sells 7,446 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARESGet Rating) General Counsel Aghili Naseem Sagati sold 7,446 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $73.18, for a total transaction of $544,898.28. Following the transaction, the general counsel now owns 218,082 shares in the company, valued at approximately $15,959,240.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ares Management Stock Down 0.8 %

Shares of NYSE ARES opened at $73.33 on Friday. Ares Management Co. has a one year low of $53.15 and a one year high of $90.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.12 and a quick ratio of 0.12. The firm’s 50 day simple moving average is $63.95 and its two-hundred day simple moving average is $71.18. The stock has a market capitalization of $21.52 billion, a P/E ratio of 47.01, a PEG ratio of 1.01 and a beta of 1.21.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, September 15th. Ares Management’s payout ratio is currently 156.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC grew its holdings in shares of Ares Management by 575.3% in the first quarter. CWM LLC now owns 601 shares of the asset manager’s stock worth $49,000 after purchasing an additional 512 shares during the last quarter. First Hawaiian Bank lifted its stake in Ares Management by 11.3% in the first quarter. First Hawaiian Bank now owns 3,545 shares of the asset manager’s stock worth $288,000 after acquiring an additional 360 shares during the period. Teacher Retirement System of Texas lifted its stake in Ares Management by 22.3% in the fourth quarter. Teacher Retirement System of Texas now owns 23,702 shares of the asset manager’s stock worth $1,926,000 after acquiring an additional 4,323 shares during the period. Xponance Inc. lifted its stake in Ares Management by 2.2% in the first quarter. Xponance Inc. now owns 14,408 shares of the asset manager’s stock worth $1,170,000 after acquiring an additional 317 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in Ares Management by 16.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 50,195 shares of the asset manager’s stock worth $4,080,000 after acquiring an additional 7,209 shares during the period. 47.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ARES. Royal Bank of Canada reduced their target price on shares of Ares Management from $95.00 to $90.00 in a research note on Monday, May 2nd. The Goldman Sachs Group dropped their price objective on shares of Ares Management from $87.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Wells Fargo & Company dropped their price objective on shares of Ares Management from $89.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Morgan Stanley lowered their price target on shares of Ares Management from $90.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 19th. Finally, UBS Group increased their price target on shares of Ares Management from $68.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.67.

About Ares Management

(Get Rating)

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.

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Insider Buying and Selling by Quarter for Ares Management (NYSE:ARES)

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