Ares Management Co. (NYSE:ARES) Insider David B. Kaplan Sells 28,887 Shares of Stock

Ares Management Co. (NYSE:ARES) insider David B. Kaplan sold 28,887 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $175.82, for a total transaction of $5,078,912.34. Following the sale, the insider now directly owns 87,461 shares of the company’s stock, valued at $15,377,393.02. The trade was a 24.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Price Performance

ARES stock opened at $178.81 on Wednesday. Ares Management Co. has a 52 week low of $107.69 and a 52 week high of $178.88. The firm has a market capitalization of $55.98 billion, a P/E ratio of 82.40, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The company has a fifty day simple moving average of $164.75 and a two-hundred day simple moving average of $149.78. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last issued its quarterly earnings data 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 analysts’ expectations 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 in the previous year, the firm posted $0.83 earnings per share. Analysts anticipate that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.08%. Ares Management’s payout ratio is presently 171.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in shares of Ares Management in the 3rd quarter worth about $36,000. Eastern Bank bought a new position in Ares Management during the 3rd quarter valued at about $39,000. West Oak Capital LLC raised its position in Ares Management by 40.0% in 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 period. Key Financial Inc purchased a new position in shares of Ares Management during the second quarter valued at approximately $53,000. Finally, Industrial Alliance Investment Management Inc. grew its stake in shares of Ares Management by 80.4% during the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after buying an additional 201 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARES. TD Cowen upped their target price on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group upped their price objective on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada lifted their target price on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Redburn Atlantic assumed coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. Finally, Morgan Stanley lifted their price objective on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.