Ares Management Co. (NYSE:ARES - Get Free Report) Chairman Antony P. Ressler sold 114,492 shares of the business's stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $131.97, for a total transaction of $15,109,509.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Ares Management Stock Down 2.0 %
NYSE ARES opened at $131.34 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 1.02. The company's 50 day simple moving average is $133.23 and its 200 day simple moving average is $118.79. Ares Management Co. has a 12 month low of $77.97 and a 12 month high of $139.48. The company has a market capitalization of $40.66 billion, a P/E ratio of 54.95, a PEG ratio of 0.98 and a beta of 1.17.
Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Thursday, February 8th. The asset manager reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $862.71 million. During the same period in the previous year, the firm earned $1.21 EPS. Equities research analysts expect that Ares Management Co. will post 4.62 earnings per share for the current fiscal year.
Ares Management Increases Dividend
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The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.93 dividend. This is an increase from Ares Management's previous quarterly dividend of $0.77. This represents a $3.72 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Thursday, March 14th. Ares Management's dividend payout ratio (DPR) is 155.65%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in Ares Management by 68.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,485 shares of the asset manager's stock valued at $527,000 after purchasing an additional 2,624 shares in the last quarter. Bank of Montreal Can grew its position in Ares Management by 172.3% during the first quarter. Bank of Montreal Can now owns 32,899 shares of the asset manager's stock valued at $2,690,000 after purchasing an additional 20,816 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Ares Management during the first quarter valued at approximately $684,000. BlackRock Inc. grew its position in Ares Management by 0.7% during the first quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager's stock valued at $502,895,000 after purchasing an additional 45,745 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Ares Management by 12.4% during the first quarter. Great West Life Assurance Co. Can now owns 7,460 shares of the asset manager's stock valued at $645,000 after purchasing an additional 825 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ARES. Royal Bank of Canada boosted their target price on shares of Ares Management from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Monday, February 12th. Wells Fargo & Company boosted their target price on shares of Ares Management from $112.00 to $126.00 and gave the company an "equal weight" rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $119.00 to $141.00 and gave the stock an "overweight" rating in a research report on Friday, February 9th. Morgan Stanley boosted their price target on shares of Ares Management from $109.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 24th. Finally, UBS Group boosted their price target on shares of Ares Management from $156.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ares Management currently has a consensus rating of "Hold" and a consensus price target of $126.17.
Read Our Latest Research Report 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.
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