Ares Management (NYSE:ARES) CEO Sells $24,946,933.84 in Stock

Key Points

• Ares Management CEO Michael Arougheti sold approximately $24.9 million worth of stock, reducing his ownership by 30.46% to 311,728 shares valued at around $57 million.
• Company shares fell by 4.7% to $180.42 following the transaction, with significant trading volume of over 2.4 million shares exchanged.
• Ares Management announced a quarterly dividend of $1.12 per share, with an ex-dividend date set for September 16, reflecting a high payout ratio of 258.96%.

Ares Management Corporation (NYSE:ARES - Get Free Report) CEO Michael Arougheti sold 136,516 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares in the company, valued at approximately $56,965,174.72. This represents a 30.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Ares Management Stock Down 4.7%

Shares of ARES traded down $8.85 during mid-day trading on Tuesday, hitting $180.42. 2,409,214 shares of the company's stock were exchanged, compared to its average volume of 1,260,290. The firm has a fifty day moving average of $179.08 and a two-hundred day moving average of $166.24. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The stock has a market cap of $58.95 billion, a price-to-earnings ratio of 104.29, a P/E/G ratio of 1.48 and a beta of 1.40. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter last year, the company earned $0.99 EPS. On average, sell-side analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.5%. Ares Management's payout ratio is currently 258.96%.

Institutional Investors Weigh In On Ares Management

Large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. bought a new position in Ares Management in the 2nd quarter valued at approximately $291,000. Hudson Bay Capital Management LP bought a new position in Ares Management during the 2nd quarter worth approximately $525,000. Evergreen Capital Management LLC bought a new position in Ares Management during the 2nd quarter worth approximately $359,000. Captrust Financial Advisors raised its holdings in Ares Management by 20.5% during the 2nd quarter. Captrust Financial Advisors now owns 7,201 shares of the asset manager's stock worth $1,247,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Vident Advisory LLC raised its holdings in Ares Management by 3,250.7% during the 2nd quarter. Vident Advisory LLC now owns 70,030 shares of the asset manager's stock worth $12,129,000 after purchasing an additional 67,940 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARES. Keefe, Bruyette & Woods boosted their price objective on shares of Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Royal Bank Of Canada increased their target price on shares of Ares Management from $195.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday. Wolfe Research set a $193.00 price target on shares of Ares Management and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company upped their price target on shares of Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, JMP Securities increased their price objective on shares of Ares Management from $195.00 to $205.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of "Moderate Buy" and an average price target of $180.06.

Ares Management Company Profile

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.

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