Insider Selling: Ares Management Co. (NYSE:ARES) Insider Sells 39,088 Shares of Stock

Ares Management Co. (NYSE:ARESGet Free Report) insider David B. Kaplan sold 39,088 shares of Ares Management stock in a transaction on Friday, March 15th. The stock was sold at an average price of $132.47, for a total transaction of $5,177,987.36. Following the transaction, the insider now owns 210,912 shares in the company, valued at approximately $27,939,512.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Stock Up 1.0 %

ARES opened at $133.48 on Thursday. The company’s 50-day moving average price is $128.45 and its two-hundred day moving average price is $115.48. The stock has a market cap of $41.33 billion, a price-to-earnings ratio of 55.85, a PEG ratio of 0.96 and a beta of 1.18. Ares Management Co. has a twelve month low of $75.03 and a twelve month high of $139.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69.

Ares Management (NYSE:ARESGet Free Report) last released its earnings results on Thursday, February 8th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $862.71 million. During the same quarter last year, the firm earned $1.21 EPS. As a group, equities analysts expect that Ares Management Co. will post 4.6 earnings per share for the current year.

Ares Management Increases Dividend

The company also recently declared 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. This represents a $3.72 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Ares Management’s previous quarterly dividend of $0.77. Ares Management’s dividend payout ratio (DPR) is 155.65%.

Institutional Investors Weigh In On Ares Management

Large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of Ares Management by 68.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,485 shares of the asset manager’s stock worth $527,000 after purchasing an additional 2,624 shares during the period. Bank of Montreal Can lifted its position in Ares Management by 172.3% during the 1st quarter. Bank of Montreal Can now owns 32,899 shares of the asset manager’s stock valued at $2,690,000 after acquiring an additional 20,816 shares during the period. MetLife Investment Management LLC purchased a new position in Ares Management during the 1st quarter valued at about $684,000. BlackRock Inc. lifted its position in Ares Management by 0.7% during the 1st quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager’s stock valued at $502,895,000 after acquiring an additional 45,745 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in Ares Management by 12.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 7,460 shares of the asset manager’s stock valued at $645,000 after acquiring an additional 825 shares during the period. Institutional investors own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ARES shares. Barclays lifted their price target on shares of Ares Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Wells Fargo & Company lifted their price target on shares of Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Morgan Stanley boosted their target price on shares of Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada upped their price objective on shares of Ares Management from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Management has an average rating of “Hold” and a consensus price target of $123.45.

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Ares Management Company Profile

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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.

Further Reading

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

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