Ares Management (NYSE:ARES) CEO Michael Arougheti Sells 136,067 Shares of Stock

Ares Management Corporation (NYSE:ARES) CEO Michael Arougheti sold 136,067 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $154.48, for a total value of $21,019,630.16. Following the completion of the transaction, the chief executive officer owned 154,930 shares in the company, valued at approximately $23,933,586.40. The trade was a 46.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Ares Management Price Performance

Shares of NYSE:ARES opened at $159.56 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The stock’s 50 day moving average is $151.70 and its 200-day moving average is $167.90. The firm has a market capitalization of $52.15 billion, a price-to-earnings ratio of 92.23, a PEG ratio of 1.19 and a beta of 1.45.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.03 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter last year, the firm posted $0.55 EPS. Sell-side analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a dividend of $0.8438 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 annualized dividend and a dividend yield of 2.1%. Ares Management’s payout ratio is presently 192.27%.

Institutional Investors Weigh In On Ares Management

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in Ares Management during the second quarter valued at about $328,910,000. Vanguard Group Inc. grew its position in shares of Ares Management by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,936,367 shares of the asset manager’s stock valued at $3,626,179,000 after acquiring an additional 1,746,376 shares during the period. Winslow Capital Management LLC bought a new position in shares of Ares Management during the 2nd quarter valued at approximately $161,774,000. Marshall Wace LLP increased its stake in shares of Ares Management by 487.4% during the 3rd quarter. Marshall Wace LLP now owns 912,656 shares of the asset manager’s stock worth $145,925,000 after purchasing an additional 757,293 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Ares Management by 1,172.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 622,796 shares of the asset manager’s stock worth $99,579,000 after purchasing an additional 573,870 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JMP Securities upped their target price on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Cfra Research upgraded Ares Management to a “moderate buy” rating in a report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Management in a research report on Monday, November 24th. Keefe, Bruyette & Woods increased their price target on Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Finally, Barclays dropped their price objective on Ares Management from $200.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and an average price target of $187.46.

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.