Ares Management Co. (NYSE:ARES) General Counsel Sells $957,880.17 in Stock

Ares Management Co. (NYSE:ARES – Get Rating) General Counsel Aghili Naseem Sagati sold 11,531 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $83.07, for a total transaction of $957,880.17. Following the transaction, the general counsel now owns 243,232 shares in the company, valued at $20,205,282.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ares Management Stock Performance

Shares of ARES opened at $84.28 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.00 and a quick ratio of 1.00. Ares Management Co. has a one year low of $53.15 and a one year high of $90.28. The firm has a market capitalization of $25.49 billion, a P/E ratio of 76.62, a PEG ratio of 0.89 and a beta of 1.31. The business has a fifty day moving average of $82.20 and a 200 day moving average of $78.88.

Ares Management (NYSE:ARES – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The asset manager reported $0.71 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.11). The business had revenue of $813.36 million during the quarter, compared to analysts’ expectations of $694.04 million. Ares Management had a net margin of 6.84% and a return on equity of 16.79%. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, sell-side analysts anticipate that Ares Management Co. will post 3.6 EPS for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $3.08 dividend on an annualized basis and a yield of 3.65%. Ares Management’s dividend payout ratio (DPR) is presently 280.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Parnassus Investments LLC bought a new position in Ares Management in the fourth quarter worth approximately $240,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Ares Management during the 3rd quarter valued at about $85,000. UBS Group AG boosted its holdings in Ares Management by 13.6% in the 3rd quarter. UBS Group AG now owns 385,521 shares of the asset manager’s stock worth $23,883,000 after buying an additional 46,129 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in Ares Management in the 3rd quarter worth about $552,000. Finally, Fulton Bank N.A. lifted its stake in Ares Management by 14.7% in the 4th quarter. Fulton Bank N.A. now owns 5,166 shares of the asset manager’s stock worth $354,000 after purchasing an additional 664 shares in the last quarter. Institutional investors own 47.96% of the company’s stock.

Analyst Ratings Changes

ARES has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Ares Management from $100.00 to $105.00 in a research report on Tuesday, May 2nd. Barclays increased their price objective on Ares Management from $98.00 to $108.00 in a research note on Monday, May 1st. BMO Capital Markets upped their price objective on Ares Management from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Friday, February 10th. TheStreet upgraded Ares Management from a “c+” rating to a “b-” rating in a research note on Thursday, April 13th. Finally, Wells Fargo & Company increased their price target on Ares Management from $81.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, February 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Ares Management currently has a consensus rating of “Moderate Buy” and an average price target of $97.44.

Ares Management Company Profile

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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.