Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 50,000 Shares

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 50,000 shares of Ares Management stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $129.72, for a total transaction of $6,486,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ares Management Stock Down 0.8 %

Shares of Ares Management stock opened at $130.70 on Friday. The company has a market capitalization of $40.46 billion, a P/E ratio of 54.69, a P/E/G ratio of 0.95 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. Ares Management Co. has a 52-week low of $77.97 and a 52-week high of $139.48. The company has a 50 day moving average of $133.36 and a 200 day moving average of $119.54.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. The business had revenue of $1.05 billion during 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 quarter in the previous year, the firm earned $1.21 EPS. As a group, research analysts forecast that Ares Management Co. will post 4.62 EPS for the current fiscal year.

Ares Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.93 dividend. This is an increase from Ares Management’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, March 14th. This represents a $3.72 annualized dividend and a yield of 2.85%. Ares Management’s dividend payout ratio is 155.65%.

Analysts Set New Price Targets

A number of brokerages have commented on ARES. Royal Bank of Canada lifted their target price on shares of Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Jefferies Financial Group downgraded shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 target price on the stock. in a research note on Tuesday, January 9th. Barclays reduced their target price on shares of Ares Management from $157.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Morgan Stanley lifted their price target 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. Finally, UBS Group lifted their price target on shares of Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $126.17.

Institutional Trading of Ares Management

Several institutional investors and hedge funds have recently bought and sold shares of the business. West Oak Capital LLC raised its position in Ares Management by 66.7% in the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Oak Thistle LLC acquired a new position in Ares Management in the 1st quarter valued at $398,000. Park Place Capital Corp increased its stake in Ares Management by 24.4% in the 1st quarter. Park Place Capital Corp now owns 4,864 shares of the asset manager’s stock valued at $647,000 after buying an additional 954 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Ares Management in the 1st quarter valued at $221,000. Finally, Signet Financial Management LLC increased its stake in Ares Management by 2.1% in the 1st quarter. Signet Financial Management LLC now owns 26,218 shares of the asset manager’s stock valued at $3,486,000 after buying an additional 543 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Company Profile

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.