Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 29,107 Shares

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,107 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $176.15, for a total value of $5,127,198.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, November 25th, Bennett Rosenthal sold 29,198 shares of Ares Management stock. The shares were sold at an average price of $175.82, for a total value of $5,133,592.36.
• 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 transaction of $3,228,005.06.
• On Wednesday, November 20th, Bennett Rosenthal sold 26,336 shares of Ares Management stock. The shares were sold at an average price of $171.18, for a total value of $4,508,196.48.
• 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 stock was sold at an average price of $167.44, for a total value 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 value 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 value of $3,791,760.14.

Ares Management Price Performance

Ares Management stock traded down $2.79 during mid-day trading on Monday, reaching $173.94. The company had a trading volume of 898,548 shares, compared to its average volume of 1,158,677. Ares Management Co. has a fifty-two week low of $107.69 and a fifty-two week high of $180.38. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $166.32 and a 200 day simple moving average of $150.62. The company has a market cap of $54.45 billion, a P/E ratio of 80.16, a P/E/G ratio of 1.92 and a beta of 1.20.

Ares Management (NYSE:ARES) last posted its quarterly 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. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.83 EPS. On average, equities research analysts predict that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued 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 2.14%. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ARES shares. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada increased their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays lifted their price objective on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley boosted their price objective on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.36.

Institutional Trading of Ares Management

A number of institutional investors have recently bought and sold shares of ARES. Point72 DIFC Ltd acquired a new position in Ares Management in the 3rd quarter worth about $36,000. Eastern Bank acquired a new stake in Ares Management in the 3rd quarter valued at about $39,000. West Oak Capital LLC boosted its stake in shares of Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after buying an additional 100 shares during the period. Key Financial Inc acquired a new position in Ares Management in the 2nd quarter worth about $53,000. Finally, Industrial Alliance Investment Management Inc. lifted its stake in Ares Management by 80.4% in the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after buying an additional 201 shares during the period. 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.