Ares Management Co. (NYSE:ARES) Insider Sells $3,205,367.45 in Stock

Ares Management Co. (NYSE:ARES) insider David B. Kaplan sold 18,259 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $175.55, for a total value of $3,205,367.45. Following the transaction, the insider now owns 116,348 shares in the company, valued at $20,424,891.40. This trade represents a 13.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ares Management Stock Up 0.3 %

NYSE ARES opened at $175.52 on Monday. The business’s 50-day moving average is $163.69 and its 200 day moving average is $149.29. The stock has a market capitalization of $54.95 billion, a PE ratio of 80.88, a PEG ratio of 1.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $176.83.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. The firm 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 earned $0.83 earnings per share. Sell-side analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.12%. Ares Management’s dividend payout ratio is 171.43%.

Institutional Investors Weigh In On Ares Management

Large investors have recently modified their holdings of the stock. MetLife Investment Management LLC boosted its position in Ares Management by 0.7% during the 3rd quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock valued at $1,798,000 after acquiring an additional 76 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Ares Management by 1.4% during the third quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock valued at $1,070,000 after purchasing an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Ares Management by 3.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock worth $399,000 after purchasing an additional 95 shares during the period. Morse Asset Management Inc raised its holdings in Ares Management by 0.7% in the third quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock worth $2,187,000 after purchasing an additional 95 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after buying an additional 97 shares during the period. Institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ARES has been the topic of a number of recent research reports. Royal Bank of Canada increased their price target on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. The Goldman Sachs Group increased their target price on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. UBS Group lifted their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen upped their price target on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Barclays lifted their price objective on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.36.

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.