Ares Management (NYSE:ARES) CEO Sells $21,019,630.16 in Stock

Ares Management Corporation (NYSE:ARES) CEO Michael Arougheti sold 136,067 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $154.48, for a total transaction of $21,019,630.16. Following the completion of the sale, the chief executive officer owned 154,930 shares in the company, valued at $23,933,586.40. The trade was a 46.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Trading Up 1.4%

Shares of NYSE:ARES opened at $162.13 on Thursday. The stock has a market capitalization of $53.00 billion, a price-to-earnings ratio of 69.58, a PEG ratio of 1.24 and a beta of 1.53. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49. The company has a 50 day moving average price of $151.16 and a 200 day moving average price of $167.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.03 billion. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.During the same quarter in the prior year, the firm earned $0.55 EPS. On average, research analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a $0.8438 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.1%. Ares Management’s dividend payout ratio (DPR) is 192.27%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARES. Nemes Rush Group LLC lifted its position in Ares Management by 3.1% in the 2nd quarter. Nemes Rush Group LLC now owns 1,745 shares of the asset manager’s stock worth $302,000 after buying an additional 52 shares in the last quarter. New York Life Investment Management LLC raised its holdings in shares of Ares Management by 2.0% during the second quarter. New York Life Investment Management LLC now owns 3,083 shares of the asset manager’s stock worth $534,000 after acquiring an additional 59 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Ares Management by 10.3% during the second quarter. First Horizon Advisors Inc. now owns 630 shares of the asset manager’s stock valued at $109,000 after purchasing an additional 59 shares during the last quarter. MGO One Seven LLC grew its stake in Ares Management by 1.3% in the second quarter. MGO One Seven LLC now owns 4,576 shares of the asset manager’s stock valued at $793,000 after purchasing an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Ares Management by 9.1% in the first quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 62 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARES has been the topic of several recent analyst reports. TD Cowen boosted their price objective on Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Management in a research report on Monday. Morgan Stanley cut their price target on shares of Ares Management from $178.00 to $175.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Keefe, Bruyette & Woods upped their price target on shares of Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Finally, BMO Capital Markets began coverage on shares of Ares Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $156.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ares Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.46.

About Ares Management

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.