Ares Management (NYSE:ARES) Chairman Antony Ressler Sells 128,837 Shares of Stock

Ares Management Corporation (NYSE:ARES) Chairman Antony Ressler sold 128,837 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ares Management Trading Down 1.0%

NYSE ARES opened at $182.95 on Friday. The business has a 50 day simple moving average of $182.19 and a 200 day simple moving average of $165.65. The stock has a market capitalization of $59.77 billion, a P/E ratio of 105.75, a P/E/G ratio of 1.45 and a beta of 1.44. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.12). The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter in the previous year, the company posted $0.99 EPS. Research analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $1.12 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 2.4%. Ares Management’s dividend payout ratio is presently 258.96%.

Analyst Ratings Changes

Several brokerages have issued reports on ARES. Cfra Research upgraded Ares Management to a “moderate buy” rating in a report on Monday, August 4th. Citigroup reiterated an “outperform” rating on shares of Ares Management in a report on Monday, July 14th. Wells Fargo & Company increased their price target on Ares Management from $189.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Barclays increased their price target on Ares Management from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada raised their target price on Ares Management from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, August 18th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.73.

Institutional Trading of Ares Management

A number of institutional investors and hedge funds have recently modified their holdings of ARES. Redmont Wealth Advisors LLC purchased a new stake in shares of Ares Management during the first quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Ares Management during the first quarter valued at approximately $31,000. Elequin Capital LP purchased a new stake in shares of Ares Management during the fourth quarter valued at approximately $33,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Ares Management during the second quarter valued at approximately $35,000. Finally, Global Financial Private Client LLC increased its position in shares of Ares Management by 125.6% during the first quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 147 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

About Ares Management

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.