Ares Management (NYSE:ARES) CEO Sells $16,937,820.90 in Stock

Ares Management Corporation (NYSE:ARES) CEO Michael Arougheti sold 112,806 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $150.15, for a total transaction of $16,937,820.90. Following the completion of the transaction, the chief executive officer owned 477,194 shares in the company, valued at approximately $71,650,679.10. This trade represents a 19.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Ares Management Stock Performance

Shares of NYSE:ARES traded up $2.74 during trading on Tuesday, reaching $152.85. 1,384,594 shares of the stock were exchanged, compared to its average volume of 1,704,514. The firm has a market cap of $49.96 billion, a PE ratio of 88.35, a PEG ratio of 1.19 and a beta of 1.45. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49. The stock has a 50-day moving average price of $153.74 and a 200-day moving average price of $168.36.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.55 EPS. Research analysts expect that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a $0.8438 dividend. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 17th. Ares Management’s payout ratio is presently 192.27%.

Analyst Ratings Changes

ARES has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. TD Cowen boosted their price target on Ares Management from $175.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Ares Management in a research note on Monday. Raymond James Financial started coverage on Ares Management in a research report on Monday, July 28th. They set a “market perform” rating for the company. Finally, BMO Capital Markets assumed coverage on Ares Management in a report on Friday, October 3rd. They set a “market perform” rating and a $156.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.46.

Hedge Funds Weigh In On Ares Management

A number of institutional investors have recently modified their holdings of ARES. Creative Planning boosted its stake in Ares Management by 29.6% in the second quarter. Creative Planning now owns 34,036 shares of the asset manager’s stock valued at $5,895,000 after buying an additional 7,776 shares in the last quarter. Wealth Alliance LLC lifted its holdings in shares of Ares Management by 30.6% in the second quarter. Wealth Alliance LLC now owns 4,388 shares of the asset manager’s stock worth $760,000 after acquiring an additional 1,027 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Ares Management by 99.5% in the 1st quarter. TCW Group Inc. now owns 31,765 shares of the asset manager’s stock valued at $4,657,000 after purchasing an additional 15,846 shares in the last quarter. Burling Wealth Partners LLC grew its holdings in shares of Ares Management by 18.9% during the 2nd quarter. Burling Wealth Partners LLC now owns 20,679 shares of the asset manager’s stock valued at $3,582,000 after purchasing an additional 3,288 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Ares Management by 115.7% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 265,459 shares of the asset manager’s stock worth $45,978,000 after purchasing an additional 142,405 shares in the last quarter. Institutional investors and hedge funds 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.