Bennett Rosenthal Sells 40,000 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 40,000 shares of Ares Management stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $169.37, for a total value of $6,774,800.00. Following the completion of the transaction, the chairman now owns 85,000 shares in the company, valued at $14,396,450. The trade was a 32.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bennett Rosenthal also recently made the following trade(s):

• On Tuesday, March 4th, Bennett Rosenthal sold 69,809 shares of Ares Management stock. The stock was sold at an average price of $161.01, for a total value of $11,239,947.09.

Ares Management Stock Down 0.9%

Shares of ARES stock traded down $1.59 on Monday, reaching $168.56. 940,078 shares of the company’s stock traded hands, compared to its average volume of 1,423,787. Ares Management Co. has a 12-month low of $110.63 and a 12-month 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. The company has a market capitalization of $55.05 billion, a P/E ratio of 83.03, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40. The business’s 50 day moving average price is $148.51 and its two-hundred day moving average price is $167.60.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. The firm had revenue of $951.96 million during the quarter, compared to analysts’ expectations of $914.00 million. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. During the same quarter last year, the firm earned $0.80 earnings per share. On average, equities analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $1.12 per share. The ex-dividend date is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.66%. Ares Management’s payout ratio is 263.53%.

Analyst Ratings Changes

ARES has been the topic of a number of recent research reports. JMP Securities lifted their target price on Ares Management from $165.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, May 8th. TD Cowen decreased their target price on Ares Management from $216.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Bank of America decreased their target price on Ares Management from $221.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Morgan Stanley decreased their target price on Ares Management from $197.00 to $152.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Finally, Citizens Jmp upgraded Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.50.

Institutional Trading of Ares Management

Institutional investors have recently bought and sold shares of the company. Transce3nd LLC acquired a new stake in Ares Management during the fourth quarter valued at $29,000. Johnson Financial Group Inc. boosted its position in Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Elequin Capital LP acquired a new stake in Ares Management during the fourth quarter valued at $33,000. Redmont Wealth Advisors LLC acquired a new stake in Ares Management during the first quarter valued at $28,000. Finally, Noble Wealth Management PBC acquired a new stake in Ares Management during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

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.