Ares Management Co. (NYSE:ARES) General Counsel Sells $957,880.17 in Stock

Ares Management Co. (NYSE:ARES – Get Rating) General Counsel Aghili Naseem Sagati sold 11,531 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $83.07, for a total transaction of $957,880.17. Following the completion of the transaction, the general counsel now owns 243,232 shares in the company, valued at $20,205,282.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ares Management Trading Down 0.5 %

Shares of Ares Management stock opened at $84.74 on Wednesday. Ares Management Co. has a 1 year low of $53.15 and a 1 year high of $90.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $25.63 billion, a P/E ratio of 77.04, a PEG ratio of 0.88 and a beta of 1.31. The company’s fifty day moving average is $81.88 and its two-hundred day moving average is $78.81.

Ares Management (NYSE:ARES – Get Rating) last released its earnings results on Friday, April 28th. The asset manager reported $0.71 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.11). Ares Management had a return on equity of 16.79% and a net margin of 6.84%. The firm had revenue of $813.36 million during the quarter, compared to analyst estimates of $694.04 million. During the same quarter last year, the business posted $0.65 EPS. Analysts forecast that Ares Management Co. will post 3.59 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Thursday, June 15th. Ares Management’s dividend payout ratio (DPR) is presently 280.00%.

Institutional Trading of Ares Management

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Place Capital Corp lifted its stake in shares of Ares Management by 1,427.3% in the first quarter. Park Place Capital Corp now owns 336 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 314 shares during the period. Harbour Investments Inc. increased its holdings in Ares Management by 210.5% during the 1st quarter. Harbour Investments Inc. now owns 354 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 240 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Ares Management by 300.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 300 shares in the last quarter. HM Payson & Co. purchased a new position in Ares Management during the 1st quarter valued at about $38,000. Finally, Machina Capital S.A.S. purchased a new position in Ares Management during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 47.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Ares Management from $98.00 to $108.00 in a report on Monday, May 1st. Bank of America reduced their target price on shares of Ares Management from $104.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. BMO Capital Markets increased their target price on shares of Ares Management from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Friday, February 10th. Morgan Stanley increased their target price on shares of Ares Management from $82.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday, February 13th. Finally, TheStreet raised shares of Ares Management from a “c+” rating to a “b-” rating in a research report on Thursday, April 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.44.

Ares Management Company Profile

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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.