Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 27,628 Shares

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 27,628 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $145.31, for a total value of $4,014,624.68. Following the sale, the chief executive officer now owns 28,095 shares in the company, valued at approximately $4,082,484.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ares Management Stock Up 1.4 %

ARES stock opened at $146.40 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $45.36 billion, a price-to-earnings ratio of 65.65, a PEG ratio of 1.29 and a beta of 1.22. The business’s fifty day moving average price is $142.32 and its two-hundred day moving average price is $137.97. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $155.53.

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

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

Institutional Trading of Ares Management

Several large investors have recently modified their holdings of ARES. Compass Wealth Management LLC acquired a new stake in Ares Management in the first quarter valued at about $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management during the first quarter valued at about $29,000. West Oak Capital LLC boosted its stake in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Ares Management by 555.0% during the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 222 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of Ares Management by 29,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 292 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ARES. UBS Group dropped their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Redburn Atlantic began coverage on Ares Management in a research note on Tuesday. They set a “neutral” rating and a $140.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $150.00 price objective on shares of Ares Management in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price target on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $138.92.

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.