Ares Management (NYSE:ARES) CEO Michael Arougheti Sells 44,760 Shares

Ares Management Corporation (NYSE:ARES) CEO Michael Arougheti sold 44,760 shares of Ares Management stock in a transaction on Monday, August 25th. The shares were sold at an average price of $178.19, for a total transaction of $7,975,784.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ares Management Price Performance

Shares of ARES opened at $179.14 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The firm has a 50-day simple moving average of $180.23 and a 200-day simple moving average of $165.76. The company has a market capitalization of $58.53 billion, a price-to-earnings ratio of 103.55, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company earned $0.99 earnings per share. On average, equities research analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.5%. Ares Management’s dividend payout ratio (DPR) is currently 258.96%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ARES shares. Royal Bank Of Canada lifted their price objective on shares of Ares Management from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, August 18th. Oppenheimer lowered shares of Ares Management from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Barclays increased their price target on shares of Ares Management from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wells Fargo & Company lifted their price objective on Ares Management from $189.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, Raymond James Financial initiated coverage on Ares Management in a research report on Monday, July 28th. They set a “market perform” rating on the stock. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $182.73.

Institutional Trading of Ares Management

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc grew its position in Ares Management by 129.6% during the first quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager’s stock worth $291,000 after buying an additional 1,122 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Ares Management by 40.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager’s stock worth $1,167,000 after acquiring an additional 2,302 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Ares Management by 4.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 53,401 shares of the asset manager’s stock worth $7,829,000 after acquiring an additional 2,171 shares during the period. TCW Group Inc. grew its holdings in shares of Ares Management by 99.5% in the 1st quarter. TCW Group Inc. now owns 31,765 shares of the asset manager’s stock worth $4,657,000 after acquiring an additional 15,846 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Ares Management in the 1st quarter valued at approximately $667,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

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.