Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 15,763 Shares

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 15,763 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $167.24, for a total value of $2,636,204.12. Following the completion of the transaction, the chairman now directly owns 214,189 shares of the company’s stock, valued at approximately $35,820,968.36. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, November 15th, Bennett Rosenthal sold 20,048 shares of Ares Management stock. The stock was sold at an average price of $167.44, for a total transaction of $3,356,837.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The stock was sold at an average price of $143.05, for a total value of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The shares were sold at an average price of $142.66, for a total transaction of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The shares were sold at an average price of $145.12, for a total value of $1,963,908.96.
• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The shares were sold at an average price of $144.09, for a total transaction of $2,262,789.36.

Ares Management Stock Performance

NYSE:ARES opened at $170.35 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s fifty day moving average is $161.29 and its 200 day moving average is $148.24. The firm has a market capitalization of $53.33 billion, a PE ratio of 78.50, a PEG ratio of 1.82 and a beta of 1.20. Ares Management Co. has a fifty-two week low of $105.89 and a fifty-two week high of $175.74.

Ares Management (NYSE:ARES) last released its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter last year, the business earned $0.83 EPS. On average, sell-side analysts anticipate that Ares Management Co. will post 4.07 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.18%. Ares Management’s dividend payout ratio is 171.43%.

Hedge Funds Weigh In On Ares Management

A number of large investors have recently bought and sold shares of the business. Unigestion Holding SA bought a new stake in shares of Ares Management during the third quarter worth $641,000. TD Private Client Wealth LLC bought a new stake in Ares Management during the 3rd quarter valued at about $905,000. Virtue Capital Management LLC purchased a new stake in Ares Management in the 3rd quarter valued at about $234,000. Toronto Dominion Bank grew its stake in Ares Management by 31.2% in the 3rd quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager’s stock worth $3,545,000 after acquiring an additional 5,404 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Ares Management by 24.7% during the third quarter. Coldstream Capital Management Inc. now owns 2,237 shares of the asset manager’s stock worth $354,000 after acquiring an additional 443 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

ARES has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group increased their price objective on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.36.

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.