Ares Management Co. (NYSE:ARES) Chairman Antony P. Ressler Sells 33,942 Shares

Ares Management Co. (NYSE:ARESGet Free Report) Chairman Antony P. Ressler sold 33,942 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $131.74, for a total value of $4,471,519.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ares Management Price Performance

Ares Management stock opened at $130.80 on Wednesday. Ares Management Co. has a 52-week low of $77.97 and a 52-week 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. The firm’s fifty day moving average is $131.39 and its 200 day moving average is $117.40. The company has a market cap of $40.50 billion, a price-to-earnings ratio of 54.73, a PEG ratio of 0.98 and a beta of 1.17.

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

Ares Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.93 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 dividend on an annualized basis and a yield of 2.84%. Ares Management’s dividend payout ratio is 155.65%.

Institutional Investors Weigh In On Ares Management

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Ares Management by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 16,392,349 shares of the asset manager’s stock valued at $1,949,378,000 after buying an additional 631,334 shares during the period. BlackRock Inc. raised its holdings in Ares Management by 7.1% during the 1st quarter. BlackRock Inc. now owns 10,618,459 shares of the asset manager’s stock valued at $886,004,000 after buying an additional 701,738 shares during the period. FMR LLC raised its holdings in Ares Management by 27.4% during the 3rd quarter. FMR LLC now owns 5,836,590 shares of the asset manager’s stock valued at $600,410,000 after buying an additional 1,255,866 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Ares Management by 269.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,113,862 shares of the asset manager’s stock valued at $489,222,000 after buying an additional 2,998,864 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Ares Management by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager’s stock valued at $460,525,000 after buying an additional 71,819 shares during the period. 50.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ARES shares. JPMorgan Chase & Co. increased their target price on Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Morgan Stanley increased their price objective 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. Wells Fargo & Company boosted their target price 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. Barclays raised their target price on shares of Ares Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Finally, Jefferies Financial Group downgraded shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target on the stock. in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.45.

View Our Latest Stock Analysis on Ares Management

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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