Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 19,749 Shares

Ares Management Co. (NYSE:ARESGet Free Report) CEO Michael J. Arougheti sold 19,749 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $132.92, for a total transaction of $2,625,037.08. Following the transaction, the chief executive officer now owns 76,395 shares of the company’s stock, valued at approximately $10,154,423.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Trading Down 2.0 %

ARES stock opened at $133.87 on Friday. The company has a market capitalization of $41.45 billion, a PE ratio of 56.01, a price-to-earnings-growth ratio of 1.00 and a beta of 1.18. Ares Management Co. has a one year low of $77.50 and a one year high of $139.48. The company’s 50 day moving average price is $129.13 and its two-hundred day moving average price is $115.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02.

Ares Management (NYSE:ARESGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. During the same period last year, the firm posted $1.21 earnings per share. As a group, analysts predict that Ares Management Co. will post 4.6 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.78%. This is an increase from Ares Management’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, March 14th. Ares Management’s payout ratio is presently 155.65%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Legacy Financial Group LLC purchased a new position in shares of Ares Management in the third quarter worth $27,000. Hollencrest Capital Management purchased a new position in shares of Ares Management in the third quarter worth $27,000. Rise Advisors LLC increased its stake in shares of Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after buying an additional 102 shares during the period. Harbour Investments Inc. increased its stake in shares of Ares Management by 210.5% in the first quarter. Harbour Investments Inc. now owns 354 shares of the asset manager’s stock worth $30,000 after buying an additional 240 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Ares Management by 300.0% in the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after buying an additional 300 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ARES. Barclays raised their price objective on shares of Ares Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Wells Fargo & Company raised their price objective on shares of Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. raised their price objective on shares of Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Royal Bank of Canada raised their price objective on shares of Ares Management from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Finally, Morgan Stanley lifted their target price on shares of Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.45.

Get Our Latest Analysis on ARES

Ares Management Company Profile

(Get Free Report)

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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