Michael J. Arougheti Sells 29,292 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 29,292 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $175.82, for a total value of $5,150,119.44. Following the completion of the transaction, the chief executive officer now owns 86,909 shares of the company’s stock, valued at $15,280,340.38. This represents a 25.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ares Management Stock Performance

NYSE:ARES opened at $174.78 on Thursday. The stock has a 50-day simple moving average of $165.19 and a two-hundred day simple moving average of $149.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a 52-week low of $107.69 and a 52-week high of $180.38. The firm has a market capitalization of $54.72 billion, a PE ratio of 80.54, a P/E/G ratio of 1.92 and a beta of 1.20.

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

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.13%. Ares Management’s dividend payout ratio is presently 171.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank of Canada boosted their target price on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Barclays lifted their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company increased their price target on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group lifted their price objective on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average target price of $166.36.

Hedge Funds Weigh In On Ares Management

Several large investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in shares of Ares Management during the third quarter worth $36,000. Eastern Bank bought a new position in shares of Ares Management during the 3rd quarter valued at about $39,000. West Oak Capital LLC grew its position 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 purchasing an additional 100 shares in the last quarter. Key Financial Inc bought a new stake in shares of Ares Management in the second quarter worth about $53,000. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of Ares Management by 80.4% in the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after buying an additional 201 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

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.