Ares Management Co. (NYSE:ARES - Get Free Report) insider David B. Kaplan sold 69,526 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $160.99, for a total value of $11,192,990.74. Following the completion of the sale, the insider now directly owns 30,474 shares in the company, valued at $4,906,009.26. This trade represents a 69.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Ares Management Stock Down 6.2 %
NYSE ARES opened at $152.84 on Friday. The stock has a fifty day moving average of $182.70 and a 200-day moving average of $169.84. The stock has a market capitalization of $47.85 billion, a P/E ratio of 75.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.18. Ares Management Co. has a 52 week low of $125.23 and a 52 week high of $200.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.
Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. On average, equities research analysts forecast that Ares Management Co. will post 5.28 EPS for the current year.
Ares Management Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.93%. This is a boost from Ares Management's previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, March 17th. Ares Management's payout ratio is presently 183.25%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Ares Management by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after acquiring an additional 907,757 shares during the period. Capital World Investors lifted its holdings in shares of Ares Management by 2.1% in the fourth quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock valued at $1,903,741,000 after purchasing an additional 223,919 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Ares Management by 0.4% during the fourth quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock worth $1,465,433,000 after acquiring an additional 33,700 shares in the last quarter. FMR LLC raised its holdings in Ares Management by 12.8% during the fourth quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after acquiring an additional 807,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Ares Management by 1.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager's stock worth $907,534,000 after acquiring an additional 66,671 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ARES has been the topic of a number of research analyst reports. Barclays lowered their target price on Ares Management from $224.00 to $217.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Ares Management from $146.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods upgraded Ares Management from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. Wells Fargo & Company raised their price objective on Ares Management from $207.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, JMP Securities reiterated a "market perform" rating on shares of Ares Management in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $176.17.
View Our Latest Research Report 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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