Bennett Rosenthal Sells 200,000 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARESGet Rating) insider Bennett Rosenthal sold 200,000 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $80.24, for a total value of $16,048,000.00. Following the sale, the insider now directly owns 100,000 shares of the company’s stock, valued at $8,024,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Tuesday, October 25th, Bennett Rosenthal sold 122,971 shares of Ares Management stock. The stock was sold at an average price of $70.87, for a total transaction of $8,714,954.77.

Ares Management Price Performance

Shares of NYSE ARES opened at $77.89 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 87.52, a PEG ratio of 0.82 and a beta of 1.28. The company’s 50-day moving average price is $71.65 and its 200 day moving average price is $68.93. Ares Management Co. has a 52 week low of $53.15 and a 52 week high of $90.08.

Ares Management (NYSE:ARESGet Rating) last released its quarterly earnings results on Thursday, October 27th. The asset manager reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. Ares Management had a net margin of 5.08% and a return on equity of 14.90%. The business had revenue of $609.56 million for the quarter, compared to analyst estimates of $636.07 million. During the same period in the prior year, the business earned $0.62 earnings per share. As a group, research analysts forecast that Ares Management Co. will post 3.23 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, December 15th. Ares Management’s payout ratio is 274.16%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Ares Management from $78.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley lifted their price target on Ares Management from $76.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, October 31st. StockNews.com began coverage on Ares Management in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Piper Sandler decreased their target price on shares of Ares Management to $86.00 in a research report on Tuesday, November 1st. Finally, Wells Fargo & Company increased their price target on shares of Ares Management from $78.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, October 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.56.

Institutional Trading of Ares Management

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in Ares Management by 2.8% during the 1st quarter. Wellington Management Group LLP now owns 15,801,274 shares of the asset manager’s stock worth $1,283,537,000 after purchasing an additional 430,412 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ares Management by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,038,275 shares of the asset manager’s stock worth $1,140,328,000 after purchasing an additional 458,646 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Ares Management by 0.7% during the first quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager’s stock worth $502,895,000 after buying an additional 45,745 shares in the last quarter. HMI Capital Management L.P. lifted its stake in shares of Ares Management by 5.0% during the third quarter. HMI Capital Management L.P. now owns 3,987,588 shares of the asset manager’s stock valued at $247,031,000 after buying an additional 188,618 shares during the period. Finally, William Blair Investment Management LLC boosted its position in Ares Management by 4.1% during the first quarter. William Blair Investment Management LLC now owns 3,405,667 shares of the asset manager’s stock worth $276,642,000 after acquiring an additional 133,227 shares during the last quarter. 48.61% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Company Profile

(Get Rating)

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.

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