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

Ares Management Co. (NYSE:ARES - Get Free Report) insider David B. Kaplan sold 33,145 shares of the firm's 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ares Management Stock Performance

Shares of NYSE ARES traded up $3.15 during trading on Friday, reaching $173.14. 761,136 shares of the company traded hands, compared to its average volume of 1,422,280. Ares Management Co. has a 12-month low of $110.63 and a 12-month high of $200.49. The stock has a market cap of $56.54 billion, a P/E ratio of 85.27, a PEG ratio of 1.28 and a beta of 1.40. The firm's fifty day simple moving average is $153.31 and its 200 day simple moving average is $167.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. The business had revenue of $951.96 million for the quarter, compared to analyst estimates of $914.00 million. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. During the same period in the prior year, the company posted $0.80 EPS. As a group, research analysts anticipate that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 annualized dividend and a yield of 2.59%. Ares Management's dividend payout ratio (DPR) is currently 263.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wolfe Research set a $193.00 price target on Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. Citizens Jmp raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. TD Cowen cut their price objective on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group reduced their price objective on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Bank of America lowered their price objective on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $174.94.

Institutional Trading of Ares Management

Several large investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in Ares Management during the first quarter worth approximately $26,350,000. Geneos Wealth Management Inc. raised its stake in shares of Ares Management by 708.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager's stock valued at $72,000 after acquiring an additional 432 shares during the period. Focus Partners Wealth lifted its stake in Ares Management by 15.3% during the first quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager's stock worth $279,000 after purchasing an additional 252 shares in the last quarter. Glenview Trust co acquired a new position in Ares Management during the 1st quarter worth about $256,000. Finally, Bayforest Capital Ltd boosted its stake in shares of Ares Management by 1,036.9% in the first quarter. Bayforest Capital Ltd now owns 3,638 shares of the asset manager's stock valued at $533,000 after purchasing an additional 3,318 shares during the period. 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.