Ares Management Co. (NYSE:ARES) Insider Ryan Berry Sells 40,000 Shares

Ares Management Co. (NYSE:ARES) insider Ryan Berry sold 40,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $104.81, for a total value of $4,192,400.00. Following the transaction, the insider now directly owns 444,661 shares in the company, valued at approximately $46,604,919.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ares Management Trading Up 0.2 %

Shares of ARES stock traded up $0.25 on Monday, hitting $105.35. The stock had a trading volume of 755,929 shares, compared to its average volume of 1,007,358. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $32.08 billion, a P/E ratio of 64.63, a P/E/G ratio of 1.06 and a beta of 1.32. Ares Management Co. has a 1 year low of $58.60 and a 1 year high of $106.77. The company’s 50 day moving average price is $101.19 and its 200-day moving average price is $90.92.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $725.82 million. Ares Management had a return on equity of 17.56% and a net margin of 8.79%. During the same quarter in the previous year, the business earned $0.74 EPS. Analysts anticipate that Ares Management Co. will post 3.69 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.77 dividend. The ex-dividend date is Thursday, September 14th. This represents a $3.08 annualized dividend and a dividend yield of 2.92%. Ares Management’s dividend payout ratio is presently 188.96%.

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Ares Management by 68.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,485 shares of the asset manager’s stock worth $527,000 after purchasing an additional 2,624 shares during the period. Bank of Montreal Can increased its holdings in Ares Management by 172.3% during the 1st quarter. Bank of Montreal Can now owns 32,899 shares of the asset manager’s stock worth $2,690,000 after purchasing an additional 20,816 shares during the period. MetLife Investment Management LLC purchased a new stake in Ares Management during the 1st quarter worth about $684,000. BlackRock Inc. increased its holdings in Ares Management by 0.7% during the 1st quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager’s stock worth $502,895,000 after purchasing an additional 45,745 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in Ares Management by 12.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 7,460 shares of the asset manager’s stock worth $645,000 after purchasing an additional 825 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Ares Management from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Barclays boosted their price objective on Ares Management from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. BMO Capital Markets boosted their price objective on Ares Management from $95.00 to $96.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 2nd. StockNews.com began coverage on Ares Management in a research note on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Royal Bank of Canada upped their price target on Ares Management from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ares Management currently has a consensus rating of “Hold” and an average target price of $105.00.

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.