Bennett Rosenthal Sells 26,336 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 26,336 shares of Ares Management stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $171.18, for a total value of $4,508,196.48. Following the sale, the chairman now directly owns 167,235 shares of the company’s stock, valued at approximately $28,627,287.30. The trade was a 13.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, November 22nd, Bennett Rosenthal sold 18,389 shares of Ares Management stock. The shares were sold at an average price of $175.54, for a total value of $3,228,005.06.
• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The stock was sold at an average price of $167.24, for a total value of $2,636,204.12.
• On Friday, November 15th, Bennett Rosenthal sold 20,048 shares of Ares Management stock. The shares were sold at an average price of $167.44, for a total transaction of $3,356,837.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The stock was sold at an average price of $142.66, for a total transaction of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The stock was sold at an average price of $145.12, for a total value of $1,963,908.96.

Ares Management Price Performance

Shares of ARES stock opened at $175.52 on Friday. Ares Management Co. has a 12 month low of $107.69 and a 12 month high of $176.83. The company has a market capitalization of $54.95 billion, a P/E ratio of 80.88, a P/E/G ratio of 1.91 and a beta of 1.20. The stock has a 50 day moving average of $163.69 and a two-hundred day moving average of $149.21. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the previous year, the company earned $0.83 earnings per share. As a group, equities analysts expect that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upped their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Barclays raised their target price on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. TD Cowen boosted their target price on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Redburn Atlantic began coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in shares of Ares Management in the 3rd quarter worth approximately $36,000. Eastern Bank acquired a new position in Ares Management during the third quarter worth $39,000. West Oak Capital LLC lifted its holdings in shares of Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 100 shares during the period. Key Financial Inc acquired a new stake in shares of Ares Management in the 2nd quarter valued at $53,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Ares Management in the 1st quarter worth about $54,000. Institutional investors 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.