Michael Arougheti Sells 85,552 Shares of Ares Management (NYSE:ARES) Stock

Key Points

• Michael Arougheti, CEO of Ares Management, sold 85,552 shares at an average price of $189.05, totaling over $16 million, representing a 16.03% decrease in his ownership.
• Ares Management reported earnings of $1.03 per share for the last quarter, missing estimates, however, it achieved revenue of $1.35 billion versus the consensus estimate of $1.02 billion.
• The company announced a quarterly dividend of $1.12 per share, with an annualized dividend yield of 2.5%, while maintaining a significant dividend payout ratio of 258.96%.

Ares Management Corporation (NYSE:ARES - Get Free Report) CEO Michael Arougheti sold 85,552 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $189.05, for a total transaction of $16,173,605.60. Following the completion of the transaction, the chief executive officer owned 448,244 shares of the company's stock, valued at approximately $84,740,528.20. This trade represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ares Management Trading Down 4.7%

Shares of NYSE:ARES traded down $8.85 during trading on Tuesday, reaching $180.42. The stock had a trading volume of 2,409,214 shares, compared to its average volume of 1,260,290. The firm's fifty day moving average is $179.08 and its 200 day moving average is $166.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. Ares Management Corporation has a 52 week low of $110.63 and a 52 week 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.

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

Ares Management Announces Dividend

The firm also recently disclosed 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Ares Management's dividend payout ratio (DPR) is 258.96%.

Institutional Trading of Ares Management

Several hedge funds and other institutional investors have recently modified their holdings of ARES. Nemes Rush Group LLC grew its stake in Ares Management by 3.1% in the 2nd quarter. Nemes Rush Group LLC now owns 1,745 shares of the asset manager's stock worth $302,000 after buying an additional 52 shares in the last quarter. New York Life Investment Management LLC grew its stake in Ares Management by 2.0% in the 2nd quarter. New York Life Investment Management LLC now owns 3,083 shares of the asset manager's stock worth $534,000 after buying an additional 59 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Ares Management by 10.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 630 shares of the asset manager's stock worth $109,000 after buying an additional 59 shares in the last quarter. MGO One Seven LLC grew its stake in Ares Management by 1.3% in the 2nd quarter. MGO One Seven LLC now owns 4,576 shares of the asset manager's stock worth $793,000 after buying an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Ares Management by 9.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager's stock worth $108,000 after buying an additional 62 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ARES shares. Cfra Research raised shares of Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price objective on shares of Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Oppenheimer lowered shares of Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Barclays lifted their price objective on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Wells Fargo & Company lifted their price objective 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. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $180.06.

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.

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