Ares Management Co. (NYSE:ARES) Chairman Sells $23,505,661.62 in Stock

Ares Management Co. (NYSE:ARES) Chairman Antony P. Ressler sold 174,258 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $134.89, for a total value of $23,505,661.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ares Management Trading Down 0.1 %

Ares Management stock opened at $133.97 on Friday. The business has a 50-day simple moving average of $133.12 and a two-hundred day simple moving average of $118.61. The company has a market cap of $41.48 billion, a P/E ratio of 56.05, a P/E/G ratio of 0.99 and a beta of 1.17. 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.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. During the same period in the previous year, the company posted $1.21 EPS. Analysts predict that Ares Management Co. will post 4.62 EPS for the current year.

Ares Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.93 per share. This is a boost from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Thursday, March 14th. Ares Management’s payout ratio is presently 155.65%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Compass Wealth Management LLC purchased a new position in shares of Ares Management during the 1st quarter valued at about $28,000. Rise Advisors LLC lifted its position in shares of Ares Management by 73.9% during the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after buying an additional 102 shares in the last quarter. Hollencrest Capital Management purchased a new position in shares of Ares Management during the 3rd quarter valued at about $27,000. Legacy Financial Group LLC purchased a new position in shares of Ares Management during the 3rd quarter valued at about $27,000. Finally, Hartford Financial Management Inc. lifted its position in shares of Ares Management by 47.4% during the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARES has been the subject of several analyst reports. Barclays reduced their price target on Ares Management from $157.00 to $153.00 and set an “overweight” rating for the company in a report on Monday. JMP Securities restated a “market perform” rating on shares of Ares Management in a report on Tuesday. Morgan Stanley raised their price target on Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Jefferies Financial Group downgraded Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price objective for the company. in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $123.09.

About Ares Management

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.