Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 150,000 Shares

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 150,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $104.79, for a total value of $15,718,500.00. Following the transaction, the chairman now owns 100,000 shares in the company, valued at approximately $10,479,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, August 15th, Bennett Rosenthal sold 202,489 shares of Ares Management stock. The stock was sold at an average price of $98.47, for a total value of $19,939,091.83.

Ares Management Price Performance

Ares Management stock traded up $0.25 during midday trading on Monday, reaching $105.35. The company’s stock had a trading volume of 755,929 shares, compared to its average volume of 1,007,358. Ares Management Co. has a 52 week low of $58.60 and a 52 week high of $106.77. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $101.19 and a 200-day moving average price of $90.92. The stock has a market cap of $32.08 billion, a PE ratio of 64.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.32.

Ares Management (NYSE:ARES) last released its earnings results on Tuesday, August 1st. The asset manager reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. Ares Management had a return on equity of 17.56% and a net margin of 8.79%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $725.82 million. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, sell-side analysts predict that Ares Management Co. will post 3.69 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, September 14th. Ares Management’s dividend payout ratio is presently 188.96%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley increased their price objective on Ares Management from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 2nd. Royal Bank of Canada raised their price target on Ares Management from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. BMO Capital Markets raised their price target on Ares Management from $95.00 to $96.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods cut Ares Management from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $99.00 to $98.00 in a research report on Monday, July 10th. Finally, The Goldman Sachs Group raised their price target on Ares Management from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $105.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Ares Management by 5.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 7,581 shares of the asset manager’s stock valued at $519,000 after purchasing an additional 377 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Ares Management by 12.8% during the first quarter. Guggenheim Capital LLC now owns 10,987 shares of the asset manager’s stock valued at $917,000 after purchasing an additional 1,245 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Ares Management by 5.3% during the first quarter. Avantax Advisory Services Inc. now owns 3,194 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 162 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ares Management during the fourth quarter valued at about $2,414,000. Finally, Arizona State Retirement System lifted its stake in shares of Ares Management by 3.6% in the first quarter. Arizona State Retirement System now owns 45,376 shares of the asset manager’s stock worth $3,786,000 after acquiring an additional 1,565 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Company Profile

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.