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

by · The Cerbat Gem

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

Ares Management Stock Up 3.6 %

Shares of ARES opened at $182.45 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a fifty-two week low of $110.41 and a fifty-two week high of $183.87. The firm has a market cap of $57.12 billion, a PE ratio of 84.08, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The company’s fifty day moving average is $169.17 and its two-hundred day moving average is $152.17.

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 for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same period in the previous year, the company posted $0.83 earnings per share. Analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.04%. Ares Management’s dividend payout ratio is currently 171.43%.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

ARES has been the subject of a number of research reports. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Morgan Stanley raised their price target on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada upped their price objective on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, TD Cowen lifted their price objective on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $166.36.

Check Out Our Latest Stock Analysis on ARES

Ares Management Company Profile

(Get Free Report)

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.

Featured Stories