Ares Management Co. (NYSE:ARES) Insider R. Kipp Deveer Sells 115,838 Shares

Ares Management Co. (NYSE:ARES) insider R. Kipp Deveer sold 115,838 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $177.83, for a total transaction of $20,599,471.54. Following the sale, the insider now directly owns 1,259,162 shares in the company, valued at $223,916,778.46. The trade was a 8.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ares Management Price Performance

ARES stock traded up $0.78 during midday trading on Tuesday, reaching $176.07. The company had a trading volume of 1,213,464 shares, compared to its average volume of 1,157,557. The firm has a 50-day moving average price of $168.29 and a 200-day moving average price of $151.74. 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 company has a market capitalization of $55.12 billion, a P/E ratio of 81.16, a P/E/G ratio of 1.94 and a beta of 1.19. Ares Management Co. has a 1 year low of $110.41 and a 1 year high of $180.38.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same period in the previous year, the business earned $0.83 earnings per share. On average, research analysts anticipate that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.11%. Ares Management’s dividend payout ratio is 171.43%.

Institutional Trading of Ares Management

A number of hedge funds have recently bought and sold shares of ARES. MetLife Investment Management LLC lifted its stake in shares of Ares Management by 0.7% in the 3rd quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock valued at $1,798,000 after acquiring an additional 76 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in Ares Management by 1.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock worth $1,070,000 after purchasing an additional 89 shares during the period. Sequoia Financial Advisors LLC increased its stake in Ares Management by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock worth $399,000 after purchasing an additional 95 shares during the period. Morse Asset Management Inc lifted its position in Ares Management by 0.7% in the third quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock valued at $2,187,000 after purchasing an additional 95 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 97 shares during the period. Institutional investors own 50.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ARES shares. UBS Group lifted their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Redburn Atlantic started coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. StockNews.com raised shares of Ares Management from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Morgan Stanley boosted their price objective on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $166.36.

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.