Ares Management Co. (NYSE:ARES - Get Free Report) insider David B. Kaplan sold 18,259 shares of Ares Management stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $175.55, for a total value of $3,205,367.45. Following the transaction, the insider now owns 116,348 shares of the company's stock, valued at $20,424,891.40. This represents a 13.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Ares Management stock traded up $0.45 during trading on Friday, reaching $175.46. The company had a trading volume of 940,865 shares, compared to its average volume of 1,156,876. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a fifty-two week low of $107.69 and a fifty-two week high of $176.83. The firm's fifty day moving average is $163.69 and its 200-day moving average is $149.13. The company has a market cap of $54.93 billion, a price-to-earnings ratio of 80.86, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20.
Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly 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. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter last year, the business posted $0.83 EPS. On average, analysts anticipate that Ares Management Co. will post 4.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.12%. The ex-dividend date is Tuesday, December 17th. Ares Management's dividend payout ratio is currently 171.43%.
A number of institutional investors have recently added to or reduced their stakes in ARES. Point72 DIFC Ltd acquired a new stake in Ares Management in the third quarter worth about $36,000. Eastern Bank acquired a new position in shares of Ares Management during the third quarter valued at approximately $39,000. West Oak Capital LLC raised its holdings in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager's stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Key Financial Inc acquired a new stake in Ares Management in the second quarter worth approximately $53,000. Finally, EntryPoint Capital LLC bought a new position in Ares Management during the 1st quarter valued at $54,000. Institutional investors and hedge funds own 50.03% of the company's stock.
A number of research firms have recently weighed in on ARES. The Goldman Sachs Group boosted their price target on Ares Management from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, September 30th. UBS Group upped their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Ares Management from $172.00 to $176.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. Morgan Stanley lifted their target price on shares of Ares Management from $136.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Finally, Redburn Atlantic initiated coverage on Ares Management in a research note on Tuesday, August 27th. They set a "neutral" rating and a $140.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.36.
View Our Latest Stock Report on ARES
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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