Ares Management Co. (NYSE:ARES) Insider David B. Kaplan Sells 15,816 Shares of Stock

Ares Management Co. (NYSE:ARES) insider David B. Kaplan sold 15,816 shares of Ares Management stock in a transaction on Monday, November 18th. The shares were sold at an average price of $167.25, for a total value of $2,645,226.00. Following the transaction, the insider now owns 214,409 shares in the company, valued at approximately $35,859,905.25. This trade represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ares Management Stock Performance

Shares of ARES stock opened at $170.35 on Wednesday. The stock’s fifty day simple moving average is $161.29 and its 200-day simple moving average is $148.24. The company has a market capitalization of $53.33 billion, a price-to-earnings ratio of 78.50, a P/E/G ratio of 1.82 and a beta of 1.20. 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 Co. has a 1-year low of $105.89 and a 1-year high of $175.74.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter in the prior year, the company earned $0.83 EPS. On average, sell-side analysts predict that Ares Management Co. will post 4.07 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.18%. Ares Management’s payout ratio is 171.43%.

Hedge Funds Weigh In On Ares Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in shares of Ares Management during the third quarter worth $36,000. Eastern Bank acquired a new position in Ares Management in the 3rd quarter worth about $39,000. West Oak Capital LLC raised its stake in shares of Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Key Financial Inc acquired a new stake in shares of Ares Management during the 2nd quarter valued at about $53,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Ares Management in the 1st quarter valued at approximately $54,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ARES shares. UBS Group lifted their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays upped their price target on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company raised their price objective on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

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.