Ares Management Co. (NYSE:ARES) Insider R. Kipp Deveer Sells 41,676 Shares

Ares Management Co. (NYSE:ARES) insider R. Kipp Deveer sold 41,676 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the sale, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ares Management Price Performance

Shares of NYSE:ARES remained flat at $150.79 during trading on Tuesday. The stock had a trading volume of 741,196 shares, compared to its average volume of 1,147,221. The company has a market cap of $46.72 billion, a PE ratio of 67.62, a price-to-earnings-growth ratio of 1.27 and a beta of 1.22. Ares Management Co. has a 1-year low of $96.00 and a 1-year high of $152.63. The stock has a 50 day moving average price of $139.91 and a two-hundred day moving average price of $133.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The business had revenue of $707.36 million for the quarter, compared to the consensus estimate of $814.88 million. During the same period in the prior year, the business posted $0.71 earnings per share. On average, equities research analysts anticipate that Ares Management Co. will post 4.24 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, June 14th. Ares Management’s dividend payout ratio is currently 166.82%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft cut Ares Management from a “buy” rating to a “hold” rating and cut their price target for the company from $176.00 to $132.00 in a report on Thursday, June 13th. TD Cowen cut their price target on Ares Management from $168.00 to $158.00 and set a “buy” rating for the company in a report on Monday, July 8th. Barclays raised their price target on Ares Management from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $150.00 price target on shares of Ares Management in a report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $134.33.

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Ares Management by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock worth $2,207,381,000 after purchasing an additional 206,996 shares during the period. Franklin Resources Inc. increased its holdings in Ares Management by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager’s stock worth $460,525,000 after purchasing an additional 71,819 shares during the period. LRI Investments LLC purchased a new position in Ares Management during the 1st quarter worth $264,729,000. Norges Bank purchased a new position in Ares Management during the 4th quarter worth $205,499,000. Finally, Curated Wealth Partners LLC increased its holdings in Ares Management by 199.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after purchasing an additional 3,321,434 shares during the period. 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.