Ares Management Co. (NYSE:ARES) Chairman Antony P. Ressler Sells 143,569 Shares

Ares Management Co. (NYSE:ARES) Chairman Antony P. Ressler sold 143,569 shares of Ares Management stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $131.51, for a total value of $18,880,759.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ares Management Price Performance

Shares of NYSE:ARES opened at $129.53 on Friday. The company has a market cap of $40.10 billion, a P/E ratio of 54.20, a P/E/G ratio of 0.99 and a beta of 1.17. 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 Co. has a 52 week low of $77.97 and a 52 week high of $139.48. The business has a fifty day simple moving average of $133.22 and a 200-day simple moving average of $119.73.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities research analysts forecast that Ares Management Co. will post 4.49 EPS for the current year.

Ares Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.93 dividend. This is an increase from Ares Management’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, March 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.87%. Ares Management’s dividend payout ratio is presently 155.65%.

Institutional Investors Weigh In On Ares Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hartford Financial Management Inc. boosted its position in shares of Ares Management by 47.4% in the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after buying an additional 90 shares during the period. Gulf International Bank UK Ltd lifted its stake in shares of Ares Management by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock worth $1,784,000 after acquiring an additional 90 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Ares Management by 17.6% in the third quarter. Harbor Investment Advisory LLC now owns 647 shares of the asset manager’s stock worth $67,000 after acquiring an additional 97 shares in the last quarter. West Oak Capital LLC lifted its stake in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Finally, Rise Advisors LLC lifted its stake in shares of Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after acquiring an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ARES shares. Wells Fargo & Company lifted their price objective on Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. UBS Group lifted their price objective on Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada boosted their price target on Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Jefferies Financial Group cut Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target for the company. in a report on Tuesday, January 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $126.17.

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.