Ares Management (NYSE:ARES) CEO Sells $28,441,591.75 in Stock

Ares Management Corporation (NYSE:ARES - Get Free Report) CEO Michael Arougheti sold 186,197 shares of the company's stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $152.75, for a total value of $28,441,591.75. Following the transaction, the chief executive officer directly owned 290,997 shares in the company, valued at $44,449,791.75. The trade was a 39.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ares Management Stock Up 1.8%

ARES stock traded up $2.74 during mid-day trading on Tuesday, reaching $152.85. 1,384,594 shares of the company traded hands, compared to its average volume of 1,704,514. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The firm's 50 day moving average price is $153.74 and its 200 day moving average price is $168.36. The stock has a market cap of $49.96 billion, a price-to-earnings ratio of 88.35, a P/E/G ratio of 1.19 and a beta of 1.45. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter last year, the company earned $0.55 earnings per share. As a group, equities research analysts predict that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a $0.8438 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $3.38 annualized dividend and a dividend yield of 2.2%. Ares Management's dividend payout ratio is currently 192.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nemes Rush Group LLC grew its holdings in Ares Management by 3.1% during the second quarter. Nemes Rush Group LLC now owns 1,745 shares of the asset manager's stock valued at $302,000 after purchasing an additional 52 shares during the period. New York Life Investment Management LLC grew its stake in shares of Ares Management by 2.0% during the 2nd quarter. New York Life Investment Management LLC now owns 3,083 shares of the asset manager's stock valued at $534,000 after acquiring an additional 59 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Ares Management by 10.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 630 shares of the asset manager's stock valued at $109,000 after acquiring an additional 59 shares during the period. MGO One Seven LLC increased its holdings in Ares Management by 1.3% in the 2nd quarter. MGO One Seven LLC now owns 4,576 shares of the asset manager's stock worth $793,000 after acquiring an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Ares Management by 9.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager's stock worth $108,000 after acquiring an additional 62 shares during the period. Institutional investors own 50.03% of the company's stock.

Wall Street Analyst Weigh In

ARES has been the subject of a number of recent analyst reports. Cfra Research raised shares of Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. JMP Securities lifted their price target on Ares Management from $195.00 to $205.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Ares Management in a research note on Monday. Raymond James Financial assumed coverage on Ares Management in a research note on Monday, July 28th. They set a "market perform" rating on the stock. Finally, Morgan Stanley reduced their price target on shares of Ares Management from $178.00 to $175.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $187.46.

Read Our Latest Research Report on ARES

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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