Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 85,000 Shares of Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 85,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total value of $14,347,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, May 15th, Bennett Rosenthal sold 40,000 shares of Ares Management stock. The shares were sold at an average price of $169.37, for a total value of $6,774,800.00.

Ares Management Stock Down 2.5%

ARES stock opened at $166.55 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The company has a market cap of $54.39 billion, a price-to-earnings ratio of 82.04, a PEG ratio of 1.28 and a beta of 1.38. Ares Management Co. has a 12-month low of $110.63 and a 12-month high of $200.49. The company has a 50 day moving average of $157.73 and a two-hundred day moving average of $167.15.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. The company had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. During the same quarter last year, the company earned $0.80 EPS. On average, equities analysts anticipate that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, June 16th. Ares Management’s payout ratio is 263.53%.

Institutional Investors Weigh In On Ares Management

Hedge funds have recently bought and sold shares of the company. Yousif Capital Management LLC grew its holdings in shares of Ares Management by 2.8% during the fourth quarter. Yousif Capital Management LLC now owns 2,352 shares of the asset manager’s stock worth $416,000 after buying an additional 65 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Ares Management by 10.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,568 shares of the asset manager’s stock valued at $278,000 after acquiring an additional 150 shares during the period. Empowered Funds LLC grew its holdings in Ares Management by 25.8% in the 4th quarter. Empowered Funds LLC now owns 4,344 shares of the asset manager’s stock valued at $769,000 after buying an additional 891 shares in the last quarter. Summit Trail Advisors LLC bought a new position in Ares Management during the fourth quarter worth about $225,000. Finally, Marks Group Wealth Management Inc bought a new stake in shares of Ares Management in the fourth quarter valued at approximately $258,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ARES shares. Wells Fargo & Company lifted their price target on shares of Ares Management from $182.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Oppenheimer cut shares of Ares Management from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 15th. Citizens Jmp raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. JMP Securities increased their price objective on Ares Management from $165.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley lowered their target price on shares of Ares Management from $197.00 to $152.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.94.

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.