Ares Management Co. (NYSE:ARES) Chairman Sells $2,529,298.76 in Stock

Ares Management Co. (NYSE:ARES) Chairman Antony P. Ressler sold 18,881 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $133.96, for a total value of $2,529,298.76. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Ares Management Price Performance

NYSE:ARES opened at $132.96 on Friday. Ares Management Co. has a one year low of $77.97 and a one year high of $139.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $41.16 billion, a PE ratio of 55.63, a P/E/G ratio of 0.98 and a beta of 1.18. The stock has a 50 day moving average price of $130.14 and a 200 day moving average price of $116.56.

Ares Management (NYSE:ARES) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $862.71 million. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. During the same quarter last year, the firm earned $1.21 earnings per share. Equities research analysts expect that Ares Management Co. will post 4.6 EPS for the current fiscal year.

Ares Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.80%. Ares Management’s payout ratio is presently 155.65%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ARES shares. Royal Bank of Canada increased their price target on Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Barclays increased their price target on Ares Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. raised their target price on Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Jefferies Financial Group downgraded Ares Management from a “buy” rating to a “hold” rating and set a $122.00 target price on the stock. in a research report on Tuesday, January 9th. Finally, Wells Fargo & Company raised their target price on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Ares Management has an average rating of “Hold” and a consensus price target of $123.45.

Institutional Investors Weigh In On Ares Management

Institutional investors have recently modified their holdings of the company. Artemis Investment Management LLP grew its stake in shares of Ares Management by 24.5% in the fourth quarter. Artemis Investment Management LLP now owns 149,920 shares of the asset manager’s stock valued at $17,829,000 after buying an additional 29,457 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Ares Management by 2.0% in the third quarter. Nordea Investment Management AB now owns 10,512 shares of the asset manager’s stock valued at $1,109,000 after buying an additional 202 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in shares of Ares Management by 11.1% in the third quarter. Hudson Bay Capital Management LP now owns 125,000 shares of the asset manager’s stock valued at $12,859,000 after buying an additional 12,500 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in Ares Management in the fourth quarter valued at $623,000. Finally, Northern Trust Corp boosted its holdings in Ares Management by 4.3% in the third quarter. Northern Trust Corp now owns 925,113 shares of the asset manager’s stock valued at $95,166,000 after purchasing an additional 38,174 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

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.