Bennett Rosenthal Sells 20,048 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 20,048 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $167.44, for a total transaction of $3,356,837.12. Following the transaction, the chairman now directly owns 229,952 shares of the company’s stock, valued at $38,503,162.88. This represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bennett Rosenthal also recently made the following trade(s):

• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The stock was sold at an average price of $167.24, for a total transaction of $2,636,204.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The stock was sold at an average price of $142.66, for a total value of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The shares were sold at an average price of $145.12, for a total value of $1,963,908.96.
• On Wednesday, August 21st, Bennett Rosenthal sold 15,704 shares of Ares Management stock. The shares were sold at an average price of $144.09, for a total value of $2,262,789.36.

Ares Management Price Performance

NYSE:ARES traded up $2.92 during trading hours on Tuesday, hitting $170.35. 723,417 shares of the stock were exchanged, compared to its average volume of 1,157,421. The firm’s fifty day moving average price is $161.29 and its 200 day moving average price is $148.24. Ares Management Co. has a 52-week low of $105.89 and a 52-week high of $175.74. The company has a market cap of $53.33 billion, a P/E ratio of 77.19, 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 (NYSE:ARES) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period in the previous year, the business earned $0.83 earnings per share. As a group, equities research analysts anticipate that Ares Management Co. will post 4.07 EPS for the current fiscal year.

Ares Management Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on ARES shares. TD Cowen raised their price objective on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Barclays raised their target price on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company upped their price target on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.36.

Hedge Funds Weigh In On Ares Management

Several hedge funds and other institutional investors have recently modified their holdings of ARES. MetLife Investment Management LLC raised its holdings in Ares Management by 0.7% in the 3rd quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock valued at $1,798,000 after acquiring an additional 76 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Ares Management by 1.4% in the third quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock valued at $1,070,000 after purchasing an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Ares Management by 3.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 95 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after buying an additional 97 shares in the last quarter. Finally, West Oak Capital LLC lifted its position in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares in the last quarter. 50.03% of the stock is 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.