Insider Selling: Ares Management (NYSE:ARES) CEO Sells 98,673 Shares of Stock

Ares Management Corporation (NYSE:ARES) CEO Michael Arougheti sold 98,673 shares of Ares Management stock in a transaction on Friday, November 28th. The stock was sold at an average price of $156.15, for a total value of $15,407,788.95. Following the sale, the chief executive officer directly owned 56,257 shares of the company’s stock, valued at approximately $8,784,530.55. This trade represents a 63.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ares Management Trading Up 1.7%

NYSE:ARES traded up $2.71 during mid-day trading on Monday, hitting $159.56. The company had a trading volume of 2,114,525 shares, compared to its average volume of 1,699,525. 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 market cap of $52.15 billion, a P/E ratio of 92.23, a P/E/G ratio of 1.19 and a beta of 1.45. The business’s fifty day moving average is $151.70 and its two-hundred day moving average is $167.90.

Ares Management (NYSE:ARES) last announced its quarterly earnings results 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 analysts’ expectations of $1.03 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same period in the prior year, the business posted $0.55 EPS. As a group, research analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ARES shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Management in a report on Monday, November 24th. TD Cowen lifted their target price on Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Cowen reaffirmed a “buy” rating on shares of Ares Management in a research report on Tuesday, November 4th. Morgan Stanley cut their price objective on Ares Management from $178.00 to $175.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $215.00 price target on shares of Ares Management in a report on Monday, September 29th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.46.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ARES. Creative Planning grew its holdings in Ares Management by 29.6% in the 2nd quarter. Creative Planning now owns 34,036 shares of the asset manager’s stock valued at $5,895,000 after buying an additional 7,776 shares in the last quarter. Wealth Alliance LLC boosted its position in shares of Ares Management by 30.6% in the second quarter. Wealth Alliance LLC now owns 4,388 shares of the asset manager’s stock valued at $760,000 after acquiring an additional 1,027 shares during the period. Burling Wealth Partners LLC grew its stake in shares of Ares Management by 18.9% in the second quarter. Burling Wealth Partners LLC now owns 20,679 shares of the asset manager’s stock valued at $3,582,000 after acquiring an additional 3,288 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Ares Management by 115.7% during the second quarter. Rockefeller Capital Management L.P. now owns 265,459 shares of the asset manager’s stock worth $45,978,000 after acquiring an additional 142,405 shares during the period. Finally, Alta Fox Capital Management LLC acquired a new stake in Ares Management in the 1st quarter worth about $2,453,000. 50.03% of the stock is owned by institutional investors and hedge funds.

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.