Ares Management Co. (NYSE:ARES) CEO Sells $601,436.88 in Stock

Ares Management Co. (NYSE:ARESGet Free Report) CEO Michael J. Arougheti sold 4,488 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $134.01, for a total value of $601,436.88. Following the transaction, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at $184,263,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ares Management Price Performance

Shares of NYSE:ARES opened at $133.96 on Wednesday. Ares Management Co. has a one year low of $77.97 and a one year high of $139.48. The stock has a fifty day moving average of $129.45 and a 200-day moving average of $116.25. The company has a market capitalization of $41.47 billion, a PE ratio of 56.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.18. 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 announced its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. During the same quarter in the prior year, the firm earned $1.21 EPS. As a group, equities analysts anticipate that Ares Management Co. will post 4.6 EPS for the current fiscal year.

Ares Management Increases Dividend

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

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC lifted its position in shares of Ares Management by 73.9% during the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 102 shares during the last quarter. Hollencrest Capital Management acquired a new stake in Ares Management during the 3rd quarter valued at $27,000. Legacy Financial Group LLC acquired a new stake in Ares Management during the 3rd quarter valued at $27,000. Hartford Financial Management Inc. raised its stake in Ares Management by 47.4% during the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Finally, Arlington Trust Co LLC acquired a new stake in Ares Management during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analyst Ratings Changes

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

View Our Latest Report on ARES

About Ares Management

(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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