Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 29,198 Shares

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 29,198 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $175.82, for a total value of $5,133,592.36. Following the completion of the sale, the chairman now directly owns 85,769 shares of the company’s stock, valued at approximately $15,079,905.58. This represents a 25.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, November 22nd, Bennett Rosenthal sold 18,389 shares of Ares Management stock. The stock was sold at an average price of $175.54, for a total value 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 shares were sold at an average price of $167.24, for a total transaction 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 stock was 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 value of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The shares were sold at an average price of $145.12, for a total value of $1,963,908.96.

Ares Management Price Performance

NYSE:ARES traded up $2.78 during midday trading on Tuesday, hitting $178.81. 1,586,503 shares of the stock were exchanged, compared to its average volume of 1,162,642. The company has a market capitalization of $55.98 billion, a price-to-earnings ratio of 82.40, a P/E/G ratio of 1.91 and a beta of 1.20. 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 Co. has a one year low of $107.69 and a one year high of $178.88. The business has a 50-day moving average price of $164.75 and a two-hundred day moving average price of $149.78.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter in the previous year, the business earned $0.83 EPS. Sell-side analysts predict 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 $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARES. Royal Bank of Canada raised their target price on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Redburn Atlantic initiated coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. UBS Group upped 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. The Goldman Sachs Group lifted their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.36.

Hedge Funds Weigh In On Ares Management

Several large investors have recently made changes to their positions in the business. Curated Wealth Partners LLC lifted its stake in Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after purchasing an additional 3,321,434 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Ares Management during the 1st quarter valued at $264,729,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Ares Management by 58.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after acquiring an additional 1,867,933 shares in the last quarter. Lone Pine Capital LLC acquired a new position in shares of Ares Management in the 2nd quarter worth $209,884,000. Finally, Millennium Management LLC grew its holdings in shares of Ares Management by 722.6% in the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after acquiring an additional 1,526,856 shares during the last quarter. 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.