David B. Kaplan Sells 33,145 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES - Get Free Report) insider David B. Kaplan sold 33,145 shares of Ares Management stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $165.12, for a total transaction of $5,472,902.40. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Ares Management Stock Performance

Shares of NYSE ARES traded up $0.97 during trading hours on Thursday, hitting $169.98. 1,163,696 shares of the stock were exchanged, compared to its average volume of 1,423,637. 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 Co. has a one year low of $110.63 and a one year high of $200.49. The company's 50 day moving average is $152.85 and its 200 day moving average is $167.32. The firm has a market capitalization of $55.51 billion, a P/E ratio of 83.73, a P/E/G ratio of 1.28 and a beta of 1.40.

Ares Management (NYSE:ARES - Get Free Report) last announced 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 company had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. During the same quarter in the prior year, the company posted $0.80 EPS. On average, research analysts expect that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.64%. Ares Management's dividend payout ratio (DPR) is 263.53%.

Institutional Investors Weigh In On Ares Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. Transce3nd LLC acquired a new position in shares of Ares Management in the 4th quarter valued at $29,000. Johnson Financial Group Inc. boosted its holdings in shares of Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after acquiring an additional 87 shares during the period. Elequin Capital LP bought a new position in Ares Management during the fourth quarter worth about $33,000. Redmont Wealth Advisors LLC acquired a new position in Ares Management in the 1st quarter valued at $28,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Ares Management during the 4th quarter worth approximately $36,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price objective on Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Bank of America dropped their price objective on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. TD Cowen decreased their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group dropped their price target on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, Wolfe Research set a $193.00 price objective on Ares Management and gave the company an "outperform" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Ares Management has a consensus rating of "Moderate Buy" and an average price target of $174.94.

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.