Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 15,704 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 15,704 shares of Ares Management stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $144.09, for a total transaction of $2,262,789.36. Following the completion of the transaction, the chairman now owns 156,031 shares of the company’s stock, valued at approximately $22,482,506.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Bennett Rosenthal also recently made the following trade(s):

• On Monday, August 19th, Bennett Rosenthal sold 10,154 shares of Ares Management stock. The stock was sold at an average price of $144.46, for a total transaction of $1,466,846.84.
• On Thursday, August 15th, Bennett Rosenthal sold 27,172 shares of Ares Management stock. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24.
• On Friday, June 21st, Bennett Rosenthal sold 150,000 shares of Ares Management stock. The shares were sold at an average price of $131.94, for a total value of $19,791,000.00.
• On Friday, May 31st, Bennett Rosenthal sold 100,000 shares of Ares Management stock. The stock was sold at an average price of $140.41, for a total value of $14,041,000.00.

Ares Management Trading Down 0.7 %

NYSE:ARES opened at $143.50 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $155.53. The stock’s 50 day moving average price is $140.86 and its 200 day moving average price is $137.37. The company has a market capitalization of $44.46 billion, a PE ratio of 64.35, a P/E/G ratio of 1.29 and a beta of 1.22.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period last year, the firm posted $0.90 earnings per share. On average, research analysts anticipate that Ares Management Co. will post 4.23 EPS for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Monday, September 16th. Ares Management’s dividend payout ratio is currently 166.82%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. UBS Group decreased their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, TD Cowen increased their price objective on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.82.

Institutional Trading of Ares Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARES. Vanguard Group Inc. grew its stake in shares of Ares Management by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock valued at $2,207,381,000 after purchasing an additional 206,996 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ares Management by 58.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after purchasing an additional 1,867,933 shares during the period. Franklin Resources Inc. grew its position in Ares Management by 1.9% in 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 last quarter. LRI Investments LLC increased its stake in Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after buying an additional 933,664 shares during the period. Finally, American Century Companies Inc. raised its position in Ares Management by 24.4% during the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock worth $308,754,000 after buying an additional 453,657 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

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.