Ares Management Co. (NYSE:ARES) Chairman Sells 85,000 Shares

Ares Management Co. (NYSE:ARES - Get Free Report) Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total value of $14,347,150.00. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $169.37, for a total transaction of $6,774,800.00.

Ares Management Stock Performance

Shares of NYSE ARES traded down $4.26 during mid-day trading on Friday, hitting $166.55. 1,143,306 shares of the company were exchanged, compared to its average volume of 1,431,400. The stock has a 50 day simple moving average of $157.73 and a 200-day simple moving average of $167.15. Ares Management Co. has a 1-year low of $110.63 and a 1-year 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 firm has a market cap of $54.39 billion, a price-to-earnings ratio of 82.04, a price-to-earnings-growth ratio of 1.28 and a beta of 1.38.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The company had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. During the same quarter last year, the business earned $0.80 EPS. On average, sell-side analysts forecast that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $1.12 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.69%. Ares Management's dividend payout ratio is currently 263.53%.

Institutional Trading of Ares Management

A number of institutional investors have recently modified their holdings of ARES. Raymond James Financial Inc. acquired a new stake in Ares Management in the fourth quarter valued at $335,858,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Ares Management by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 715,258 shares of the asset manager's stock valued at $126,622,000 after purchasing an additional 32,273 shares in the last quarter. Soros Capital Management LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at about $10,144,000. Asset Management One Co. Ltd. boosted its holdings in Ares Management by 4.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 72,065 shares of the asset manager's stock worth $12,936,000 after buying an additional 3,274 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Ares Management by 34.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,622 shares of the asset manager's stock worth $5,067,000 after buying an additional 7,300 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ARES. Wolfe Research set a $193.00 price objective on shares of Ares Management and gave the company an "outperform" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group reduced their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. JMP Securities raised their price target on Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 8th. Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Finally, 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 report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average 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.