Michael J. Arougheti Sells 18,232 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 18,232 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $175.54, for a total transaction of $3,200,445.28. Following the transaction, the chief executive officer now directly owns 116,201 shares in the company, valued at $20,397,923.54. This trade represents a 13.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Ares Management Stock Performance

NYSE:ARES traded up $0.45 during midday trading on Friday, hitting $175.46. The company’s stock had a trading volume of 940,865 shares, compared to its average volume of 1,156,876. The firm’s 50 day moving average is $163.69 and its 200-day moving average is $149.13. The firm has a market cap of $54.93 billion, a P/E ratio of 80.86, a P/E/G ratio of 1.85 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a fifty-two week low of $107.69 and a fifty-two week high of $176.83.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period last year, the firm earned $0.83 EPS. Equities analysts anticipate that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. Ares Management’s payout ratio is 171.43%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their price objective on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their target price on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. TD Cowen upped their price target on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Redburn Atlantic assumed coverage on Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Ares Management presently has an average rating of “Moderate Buy” and a consensus target price of $166.36.

Institutional Investors Weigh In On Ares Management

A number of institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in Ares Management in the 3rd quarter worth $36,000. Eastern Bank purchased a new stake in shares of Ares Management during the third quarter worth about $39,000. West Oak Capital LLC raised its position in shares of Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Key Financial Inc purchased a new position in Ares Management in the 2nd quarter valued at about $53,000. Finally, EntryPoint Capital LLC acquired a new stake in Ares Management in the 1st quarter worth about $54,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

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.