Michael J. Arougheti Sells 46,721 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARES) CEO Michael J. Arougheti sold 46,721 shares of the stock in a transaction that occurred on Thursday, January 13th. The shares were sold at an average price of $77.81, for a total transaction of $3,635,361.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of ARES opened at $77.12 on Friday. Ares Management Co. has a twelve month low of $44.43 and a twelve month high of $90.08. The firm’s fifty day simple moving average is $81.27 and its 200-day simple moving average is $76.44. The firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 40.17, a PEG ratio of 0.82 and a beta of 1.02. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.38.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Wednesday, October 27th. The asset manager reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.02). Ares Management had a return on equity of 14.96% and a net margin of 10.23%. The company had revenue of $512.59 million for the quarter, compared to analyst estimates of $528.44 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, analysts predict that Ares Management Co. will post 2.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Friday, December 17th were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, December 16th. This represents a $1.88 annualized dividend and a yield of 2.44%. Ares Management’s dividend payout ratio is currently 97.92%.

A number of equities analysts recently weighed in on ARES shares. Jefferies Financial Group increased their price objective on shares of Ares Management from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, September 30th. Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Wednesday. Bank of America started coverage on shares of Ares Management in a research report on Thursday, December 16th. They set a “buy” rating and a $117.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Ares Management from $87.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Finally, Wells Fargo & Company started coverage on shares of Ares Management in a research report on Wednesday, December 15th. They set an “overweight” rating and a $96.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $86.44.

A number of large investors have recently made changes to their positions in the stock. Spire Wealth Management raised its stake in Ares Management by 8.4% during the 4th quarter. Spire Wealth Management now owns 8,331 shares of the asset manager’s stock worth $677,000 after acquiring an additional 646 shares in the last quarter. RVW Wealth LLC acquired a new stake in Ares Management during the 4th quarter worth $203,000. Exchange Traded Concepts LLC acquired a new stake in Ares Management during the 4th quarter worth $448,000. IFP Advisors Inc increased its stake in Ares Management by 413.2% in the fourth quarter. IFP Advisors Inc now owns 2,371 shares of the asset manager’s stock valued at $191,000 after purchasing an additional 1,909 shares during the period. Finally, Fulton Bank N.A. acquired a new position in Ares Management in the fourth quarter valued at $311,000. Hedge funds and other institutional investors own 44.42% of the company’s stock.

About Ares Management

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.

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