Bennett Rosenthal Sells 26,336 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 26,336 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $171.18, for a total value of $4,508,196.48. Following the completion of the transaction, the chairman now owns 167,235 shares of the company’s stock, valued at $28,627,287.30. This trade represents a 13.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, November 22nd, Bennett Rosenthal sold 18,389 shares of Ares Management stock. The shares were sold at an average price of $175.54, for a total value of $3,228,005.06.
• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The stock was sold at an average price of $167.24, for a total transaction of $2,636,204.12.
• On Friday, November 15th, Bennett Rosenthal sold 20,048 shares of Ares Management stock. The stock was sold at an average price of $167.44, for a total value of $3,356,837.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The stock was sold at an average price of $142.66, for a total value of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The stock was sold at an average price of $145.12, for a total transaction of $1,963,908.96.

Ares Management Price Performance

Shares of Ares Management stock traded up $0.45 during trading on Friday, hitting $175.46. The stock had a trading volume of 940,865 shares, compared to its average volume of 1,156,876. The business has a fifty day moving average of $163.69 and a two-hundred day moving average of $149.13. The firm has a market cap of $54.93 billion, a P/E ratio of 80.86, a PEG ratio of 1.85 and a beta of 1.20. Ares Management Co. has a fifty-two week low of $107.69 and a fifty-two week high of $176.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES) last released its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period in the previous year, the firm earned $0.83 EPS. On average, sell-side analysts expect that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. 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 dividend payout ratio (DPR) is presently 171.43%.

Wall Street Analysts Forecast Growth

ARES has been the topic of a number of analyst reports. Barclays lifted their target price on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. The Goldman Sachs Group raised their price target 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. UBS Group upped their price target on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley boosted their target price on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.36.

Hedge Funds Weigh In On Ares Management

Institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Ares Management in the third quarter worth about $36,000. Eastern Bank purchased a new position in Ares Management during the 3rd quarter worth approximately $39,000. West Oak Capital LLC boosted its position in shares of Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares during the period. Key Financial Inc purchased a new position in shares of Ares Management during the second quarter valued at $53,000. Finally, EntryPoint Capital LLC acquired a new position in Ares Management in the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors 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.