Ares Management Co. (NYSE:ARES) Chairman Antony P. Ressler Sells 38,915 Shares

Ares Management Co. (NYSE:ARESGet Free Report) Chairman Antony P. Ressler sold 38,915 shares of Ares Management stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $132.46, for a total value of $5,154,680.90. Following the completion of the sale, the chairman now directly owns 96,085 shares in the company, valued at approximately $12,727,419.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Ares Management Stock Up 1.5 %

Shares of ARES opened at $132.16 on Wednesday. The firm’s 50-day simple moving average is $128.16 and its 200 day simple moving average is $115.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $40.92 billion, a P/E ratio of 55.30, a price-to-earnings-growth ratio of 0.97 and a beta of 1.18. Ares Management Co. has a 52 week low of $73.96 and a 52 week high of $139.48.

Ares Management (NYSE:ARESGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $862.71 million. During the same period in the prior year, the firm posted $1.21 EPS. On average, analysts forecast that Ares Management Co. will post 4.6 earnings per share for the current year.

Ares Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.72 dividend on an annualized basis and a yield of 2.81%. This is an increase from Ares Management’s previous quarterly dividend of $0.77. Ares Management’s payout ratio is currently 155.65%.

Analyst Ratings Changes

ARES has been the topic of a number of research reports. Jefferies Financial Group lowered shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price objective on the stock. in a research report on Tuesday, January 9th. Royal Bank of Canada boosted their price target on shares of Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Wells Fargo & Company raised their price objective on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Morgan Stanley upped their target price on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Barclays boosted their price target on Ares Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $123.45.

Get Our Latest Report on Ares Management

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARES. Nordea Investment Management AB lifted its position in shares of Ares Management by 2.0% during the 3rd quarter. Nordea Investment Management AB now owns 10,512 shares of the asset manager’s stock valued at $1,109,000 after acquiring an additional 202 shares during the period. Northern Trust Corp increased its stake in shares of Ares Management by 4.3% in the 3rd quarter. Northern Trust Corp now owns 925,113 shares of the asset manager’s stock valued at $95,166,000 after purchasing an additional 38,174 shares during the last quarter. Hudson Bay Capital Management LP raised its holdings in shares of Ares Management by 11.1% during the 3rd quarter. Hudson Bay Capital Management LP now owns 125,000 shares of the asset manager’s stock worth $12,859,000 after buying an additional 12,500 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Ares Management during the 3rd quarter worth $2,223,000. Finally, Dai ichi Life Insurance Company Ltd bought a new stake in shares of Ares Management during the 3rd quarter worth $1,376,000. 50.03% of the stock is owned by institutional investors.

Ares Management Company Profile

(Get Free Report)

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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