Bennett Rosenthal Sells 85,000 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES - Get Free Report) Chairman Bennett Rosenthal sold 85,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total transaction of $14,347,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bennett Rosenthal also recently made the following trade(s):

• On Thursday, May 15th, Bennett Rosenthal sold 40,000 shares of Ares Management stock. The stock was sold at an average price of $169.37, for a total transaction of $6,774,800.00.

Ares Management Stock Performance

NYSE:ARES traded up $0.48 during midday trading on Monday, reaching $167.04. The stock had a trading volume of 750,273 shares, compared to its average volume of 1,429,140. The firm has a fifty day simple moving average of $158.62 and a two-hundred day simple moving average of $166.97. Ares Management Co. has a 12-month low of $110.63 and a 12-month high of $200.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $54.55 billion, a P/E ratio of 82.29, a P/E/G ratio of 1.28 and a beta of 1.38.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The firm had revenue of $951.96 million for the quarter, compared to analyst estimates of $914.00 million. During the same period last year, the firm posted $0.80 EPS. On average, equities analysts expect that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.68%. Ares Management's dividend payout ratio (DPR) is 263.53%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Oppenheimer cut shares of Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Citizens Jmp raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a report on Tuesday, April 8th. Wells Fargo & Company raised their price objective on shares of Ares Management from $182.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Bank of America cut their price objective on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Finally, Wolfe Research set a $193.00 price objective on shares of Ares Management and gave the stock an "outperform" rating in a report on Tuesday, May 6th. 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 company. Based on data from MarketBeat, Ares Management presently has an average rating of "Moderate Buy" and a consensus target price of $174.94.

Hedge Funds Weigh In On Ares Management

A number of hedge funds and other institutional investors have recently bought and sold shares of ARES. Norges Bank purchased a new position in Ares Management in the 4th quarter valued at $381,365,000. Raymond James Financial Inc. purchased a new stake in shares of Ares Management during the 4th quarter worth $335,858,000. TD Asset Management Inc. boosted its position in shares of Ares Management by 4,557.2% during the 4th quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager's stock worth $230,981,000 after purchasing an additional 1,276,743 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Ares Management by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock worth $3,329,530,000 after purchasing an additional 907,757 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Ares Management by 12.8% during the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after purchasing an additional 807,361 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

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.