Ares Management Co. (NYSE:ARES - Get Free Report) insider Ryan Berry sold 14,357 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the transaction, the insider now owns 233,214 shares in the company, valued at $42,015,834.24. The trade was a 5.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Ryan Berry also recently made the following trade(s):
Shares of NYSE ARES traded down $0.35 during trading on Friday, hitting $182.39. 990,651 shares of the company traded hands, compared to its average volume of 1,159,253. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $57.10 billion, a P/E ratio of 85.04, a P/E/G ratio of 1.99 and a beta of 1.19. The company has a 50-day moving average price of $169.68 and a 200-day moving average price of $152.38. Ares Management Co. has a 1 year low of $112.83 and a 1 year high of $185.06.
Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. During the same period last year, the business posted $0.83 EPS. On average, equities analysts predict that Ares Management Co. will post 4.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend 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%.
Several equities analysts have weighed in on the company. TD Cowen raised their price target on Ares Management from $184.00 to $187.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Wells Fargo & Company upgraded Ares Management from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $176.00 to $212.00 in a research report on Thursday. Royal Bank of Canada upped their target price on shares of Ares Management from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of Ares Management from $176.00 to $174.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, Morgan Stanley upped 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Ares Management currently has an average rating of "Hold" and an average price target of $169.64.
Read Our Latest Stock Report on ARES
A number of institutional investors have recently added to or reduced their stakes in ARES. Point72 DIFC Ltd purchased a new stake in shares of Ares Management during the 3rd quarter valued at about $36,000. Eastern Bank acquired a new stake in Ares Management during the 3rd quarter valued at $39,000. West Oak Capital LLC grew its holdings in Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager's stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Key Financial Inc purchased a new stake in Ares Management during the 2nd quarter worth $53,000. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in Ares Management by 80.4% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager's stock worth $60,000 after buying an additional 201 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.
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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