Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal Sells 50,000 Shares

Ares Management Co. (NYSE:ARES - Get Free Report) Chairman Bennett Rosenthal sold 50,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $129.72, for a total value of $6,486,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ares Management Stock Up 0.6 %

ARES traded up $0.80 during trading hours on Wednesday, hitting $131.69. 1,240,389 shares of the company's stock were exchanged, compared to its average volume of 1,032,291. The stock has a market cap of $40.77 billion, a price-to-earnings ratio of 55.10, a PEG ratio of 0.94 and a beta of 1.17. Ares Management Co. has a 1-year low of $77.97 and a 1-year high of $139.48. The stock's 50-day moving average is $133.40 and its two-hundred day moving average is $119.38. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. During the same quarter in the previous year, the business earned $1.21 earnings per share. Sell-side analysts predict that Ares Management Co. will post 4.62 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.93 per share. This is an increase from Ares Management's previous quarterly dividend of $0.77. The ex-dividend date was Thursday, March 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.82%. Ares Management's payout ratio is presently 155.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARES shares. Barclays cut their price target on Ares Management from $157.00 to $153.00 and set an "overweight" rating for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of Ares Management from $119.00 to $141.00 and gave the stock an "overweight" rating in a research note on Friday, February 9th. Wells Fargo & Company boosted their target price on shares of Ares Management from $112.00 to $126.00 and gave the company an "equal weight" rating in a research note on Friday, February 9th. Morgan Stanley boosted their price target on shares of Ares Management from $109.00 to $118.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 24th. Finally, Jefferies Financial Group cut shares of Ares Management from a "buy" rating to a "hold" rating and set a $122.00 target price for the company. in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $126.17.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ARES. Legacy Financial Group LLC bought a new position in Ares Management during the 3rd quarter worth $27,000. Hollencrest Capital Management bought a new position in Ares Management in the third quarter valued at about $27,000. Compass Wealth Management LLC acquired a new stake in shares of Ares Management in the 1st quarter valued at approximately $28,000. Rise Advisors LLC grew its holdings in shares of Ares Management by 73.9% during the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager's stock valued at $29,000 after purchasing an additional 102 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Ares Management during the first quarter worth $29,000. 50.03% of the stock is owned by 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.