Ares Management Co. (NYSE:ARES - Get Free Report) CEO Michael J. Arougheti sold 18,232 shares of Ares Management stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $175.54, for a total value of $3,200,445.28. Following the transaction, the chief executive officer now owns 116,201 shares in the company, valued at $20,397,923.54. This represents a 13.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Ares Management Trading Up 0.3 %
Shares of NYSE:ARES opened at $175.46 on Friday. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $176.83. The firm has a fifty day moving average price of $163.69 and a 200 day moving average price of $149.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $54.93 billion, a PE ratio of 80.86, a P/E/G ratio of 1.91 and a beta of 1.20.
Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the prior year, the firm posted $0.83 EPS. Analysts expect that Ares Management Co. will post 4.06 EPS for the current fiscal year.
Ares Management Announces Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Tuesday, December 17th. Ares Management's payout ratio is 171.43%.
Analysts Set New Price Targets
A number of brokerages have commented on ARES. UBS Group raised their price objective on Ares Management from $158.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Ares Management from $172.00 to $176.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. The Goldman Sachs Group increased their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Morgan Stanley boosted their price target on shares of Ares Management from $136.00 to $162.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Finally, Barclays increased their price objective on Ares Management from $155.00 to $174.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $166.36.
View Our Latest Analysis on Ares Management
Institutional Trading of Ares Management
Several large investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its position in Ares Management by 20.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,488 shares of the asset manager's stock worth $1,129,000 after acquiring an additional 1,417 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in shares of Ares Management by 118.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,400 shares of the asset manager's stock worth $319,000 after purchasing an additional 1,300 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Ares Management by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 65,325 shares of the asset manager's stock worth $8,693,000 after purchasing an additional 1,345 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Ares Management during the 1st quarter valued at approximately $1,995,000. Finally, Natixis grew its holdings in Ares Management by 401.4% in the 1st quarter. Natixis now owns 10,273 shares of the asset manager's stock valued at $1,366,000 after buying an additional 8,224 shares during the last quarter. 50.03% of the stock is owned by institutional investors.
Ares Management Company Profile
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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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