Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti Sells 110,845 Shares of Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 110,845 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the sale, the chief executive officer now directly owns 1,400,000 shares of the company’s stock, valued at $214,438,000. This represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Ares Management Price Performance

Shares of ARES stock opened at $153.69 on Thursday. The company has a market cap of $48.47 billion, a P/E ratio of 75.71, a PEG ratio of 1.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50-day moving average is $173.80 and its 200 day moving average is $170.36. Ares Management Co. has a 1-year low of $125.23 and a 1-year high of $200.49.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. Research analysts predict that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Ares Management’s previous quarterly dividend of $0.93. Ares Management’s dividend payout ratio is currently 183.25%.

Wall Street Analyst Weigh In

ARES has been the subject of several research reports. JMP Securities reissued a “market perform” rating on shares of Ares Management in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of Ares Management from $215.00 to $187.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Barclays dropped their price objective on Ares Management from $224.00 to $217.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods raised Ares Management from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $166.00 to $202.00 in a research report on Friday, December 20th. Finally, StockNews.com downgraded Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average price target of $173.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in Ares Management by 67.0% during the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after purchasing an additional 65 shares during the last quarter. Transce3nd LLC acquired a new position in shares of Ares Management in the 4th quarter valued at $29,000. Johnson Financial Group Inc. raised its stake in Ares Management by 104.8% in the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. Elequin Capital LP acquired a new stake in Ares Management during the 4th quarter worth about $33,000. Finally, Point72 DIFC Ltd purchased a new stake in Ares Management during the 3rd quarter valued at about $36,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Company Profile

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.