R. Kipp Deveer Sells 214,780 Shares of Ares Management Corp (NYSE:ARES) Stock

Ares Management Corp (NYSE:ARES) insider R. Kipp Deveer sold 214,780 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $27.71, for a total value of $5,951,553.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

R. Kipp Deveer also recently made the following trade(s):

  • On Monday, June 24th, R. Kipp Deveer sold 36,487 shares of Ares Management stock. The stock was sold at an average price of $27.18, for a total value of $991,716.66.
  • On Friday, June 7th, R. Kipp Deveer sold 5,166 shares of Ares Management stock. The stock was sold at an average price of $26.12, for a total value of $134,935.92.

Ares Management stock opened at $25.81 on Wednesday. The stock has a market cap of $2.82 billion, a PE ratio of 18.18, a PEG ratio of 1.46 and a beta of 1.43. The stock’s 50-day moving average is $26.27. Ares Management Corp has a 52 week low of $16.18 and a 52 week high of $28.58. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The company had revenue of $224.66 million for the quarter, compared to analysts’ expectations of $228.42 million. Ares Management had a return on equity of 25.86% and a net margin of 5.22%. During the same quarter in the prior year, the business posted $0.39 EPS. Equities research analysts predict that Ares Management Corp will post 1.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Thursday, June 13th. Ares Management’s dividend payout ratio is presently 90.14%.

Institutional investors have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. acquired a new stake in Ares Management in the 1st quarter worth about $29,366,000. Brown Advisory Inc. boosted its stake in Ares Management by 126.2% in the 4th quarter. Brown Advisory Inc. now owns 1,684,985 shares of the asset manager’s stock worth $29,960,000 after buying an additional 940,186 shares during the last quarter. FMR LLC boosted its stake in Ares Management by 16.5% in the 1st quarter. FMR LLC now owns 2,808,368 shares of the asset manager’s stock worth $65,182,000 after buying an additional 396,792 shares during the last quarter. American Century Companies Inc. boosted its stake in Ares Management by 14.3% in the 4th quarter. American Century Companies Inc. now owns 2,224,981 shares of the asset manager’s stock worth $39,560,000 after buying an additional 278,783 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Ares Management by 848.4% in the 4th quarter. Bank of New York Mellon Corp now owns 288,308 shares of the asset manager’s stock worth $5,126,000 after buying an additional 257,910 shares during the last quarter. Hedge funds and other institutional investors own 60.00% of the company’s stock.

A number of research firms recently commented on ARES. Zacks Investment Research cut Ares Management from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. ValuEngine upgraded Ares Management from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.00.

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.

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