Ares Management Co. (NYSE:ARES - Get Free Report) insider David B. Kaplan sold 626 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $165.07, for a total value of $103,333.82. Following the completion of the transaction, the insider now directly owns 61,874 shares of the company's stock, valued at approximately $10,213,541.18. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Ares Management Stock Performance
Shares of NYSE ARES traded up $0.67 during trading on Friday, reaching $165.57. 3,004,163 shares of the stock traded hands, compared to its average volume of 1,427,415. Ares Management Co. has a 52-week low of $110.63 and a 52-week high of $200.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average of $151.71 and a 200-day moving average of $167.31. The stock has a market capitalization of $54.07 billion, a P/E ratio of 81.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40.
Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. The firm had revenue of $951.96 million for the quarter, compared to analysts' expectations of $914.00 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Analysts forecast that Ares Management Co. will post 5.28 EPS for the current fiscal year.
Ares Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.71%. Ares Management's payout ratio is 263.53%.
Institutional Trading of Ares Management
A number of hedge funds and other institutional investors have recently made changes to their positions in ARES. Barclays PLC raised its stake in shares of Ares Management by 42.4% during the 3rd quarter. Barclays PLC now owns 435,103 shares of the asset manager's stock valued at $67,807,000 after purchasing an additional 129,611 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Ares Management by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager's stock valued at $1,284,773,000 after purchasing an additional 679,462 shares during the period. Blue Trust Inc. raised its stake in shares of Ares Management by 52.1% during the 4th quarter. Blue Trust Inc. now owns 1,442 shares of the asset manager's stock valued at $255,000 after purchasing an additional 494 shares during the period. KBC Group NV raised its stake in shares of Ares Management by 4.6% during the 4th quarter. KBC Group NV now owns 28,000 shares of the asset manager's stock valued at $4,957,000 after purchasing an additional 1,220 shares during the period. Finally, Stonegate Investment Group LLC bought a new stake in shares of Ares Management during the 4th quarter valued at $217,000. 50.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ARES has been the topic of several research analyst reports. TD Cowen cut their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Oppenheimer cut Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Wells Fargo & Company increased their price target on shares of Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Citizens Jmp upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Ares Management presently has an average rating of "Moderate Buy" and a consensus target price of $174.94.
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About Ares Management
(
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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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