Bennett Rosenthal Sells 200,000 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARESGet Rating) insider Bennett Rosenthal sold 200,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $80.24, for a total transaction of $16,048,000.00. Following the transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $8,024,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Tuesday, October 25th, Bennett Rosenthal sold 122,971 shares of Ares Management stock. The stock was sold at an average price of $70.87, for a total value of $8,714,954.77.

Ares Management Trading Down 1.3 %

ARES opened at $77.89 on Friday. The firm has a market capitalization of $22.91 billion, a P/E ratio of 87.52, a P/E/G ratio of 0.82 and a beta of 1.28. The firm’s 50 day moving average is $71.65 and its 200-day moving average is $68.93. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.63. Ares Management Co. has a 52-week low of $53.15 and a 52-week high of $90.08.

Ares Management (NYSE:ARESGet Rating) last released its quarterly earnings results on Thursday, October 27th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $609.56 million for the quarter, compared to the consensus estimate of $636.07 million. Ares Management had a net margin of 5.08% and a return on equity of 14.90%. During the same quarter in the previous year, the firm posted $0.62 EPS. Analysts expect that Ares Management Co. will post 3.23 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, December 15th. Ares Management’s dividend payout ratio (DPR) is 274.16%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARES. BMO Capital Markets downgraded Ares Management from an “outperform” rating to a “market perform” rating and set a $93.00 price target for the company. in a research report on Monday. Piper Sandler decreased their target price on Ares Management to $86.00 in a report on Tuesday, November 1st. UBS Group raised their price target on shares of Ares Management from $78.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com initiated coverage on shares of Ares Management in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Finally, Barclays raised their target price on shares of Ares Management from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, October 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.56.

Institutional Investors Weigh In On Ares Management

A number of hedge funds have recently bought and sold shares of ARES. PAX Financial Group LLC raised its position in shares of Ares Management by 1.5% in the 3rd quarter. PAX Financial Group LLC now owns 10,816 shares of the asset manager’s stock valued at $670,000 after purchasing an additional 158 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in Ares Management by 1.6% in the first quarter. Vontobel Holding Ltd. now owns 10,484 shares of the asset manager’s stock valued at $852,000 after acquiring an additional 167 shares in the last quarter. Veritable L.P. boosted its stake in Ares Management by 4.6% during the 1st quarter. Veritable L.P. now owns 4,384 shares of the asset manager’s stock valued at $356,000 after acquiring an additional 191 shares during the last quarter. Arizona State Retirement System grew its holdings in Ares Management by 0.5% during the 3rd quarter. Arizona State Retirement System now owns 39,630 shares of the asset manager’s stock worth $2,455,000 after acquiring an additional 203 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its position in shares of Ares Management by 0.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 26,740 shares of the asset manager’s stock worth $2,172,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 48.61% of the company’s stock.

About Ares Management

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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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