Insider Selling: Ares Management Co. (NYSE:ARES) Chairman Sells $19,791,000.00 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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.
• On Monday, April 15th, Bennett Rosenthal sold 50,000 shares of Ares Management stock. The stock was sold at an average price of $129.72, for a total value of $6,486,000.00.

Ares Management Stock Up 0.4 %

Shares of NYSE:ARES opened at $135.95 on Friday. The stock has a fifty day simple moving average of $137.96 and a two-hundred day simple moving average of $130.46. The stock has a market capitalization of $42.12 billion, a price-to-earnings ratio of 60.96, a PEG ratio of 1.29 and a beta of 1.21. Ares Management Co. has a 12-month low of $92.43 and a 12-month high of $150.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The company had revenue of $707.36 million for the quarter, compared to analysts’ expectations of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, research analysts anticipate that Ares Management Co. will post 4.25 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, June 14th. Ares Management’s payout ratio is 166.82%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new position in shares of Ares Management in the first quarter worth $28,000. Riverview Trust Co purchased a new position in shares of Ares Management in the first quarter worth $29,000. Rise Advisors LLC raised 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 purchasing an additional 102 shares during the last quarter. West Oak Capital LLC raised 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 purchasing an additional 100 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Ares Management by 555.0% in the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after purchasing an additional 222 shares during 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. TD Cowen raised their price target on Ares Management from $154.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $150.00 price objective on shares of Ares Management in a research report on Wednesday, May 22nd. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a research report on Tuesday, April 9th. Barclays cut their price objective on Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, UBS Group lifted their price objective on Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ares Management currently has a consensus rating of “Hold” and a consensus target price of $130.29.

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.