Ares Management Corp (NYSE:ARES) Insider Sells $1,861,277.25 in Stock

Ares Management Corp (NYSE:ARES) insider David B. Kaplan sold 50,647 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.75, for a total transaction of $1,861,277.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Ares Management stock opened at $35.06 on Wednesday. The company has a market capitalization of $4.64 billion, a P/E ratio of 92.27, a P/E/G ratio of 4.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.23 and a current ratio of 0.23. The company has a fifty day moving average of $33.48 and a 200 day moving average of $34.04. Ares Management Corp has a fifty-two week low of $20.20 and a fifty-two week high of $41.88.

Ares Management (NYSE:ARES) last issued its earnings results on Wednesday, May 6th. The asset manager reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. The company had revenue of $411.80 million during the quarter, compared to the consensus estimate of $369.82 million. Ares Management had a net margin of 5.60% and a return on equity of 15.52%. During the same quarter in the prior year, the firm posted $0.35 EPS. Analysts forecast that Ares Management Corp will post 1.66 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Monday, June 15th. Ares Management’s dividend payout ratio is currently 95.81%.

A number of equities analysts recently weighed in on ARES shares. UBS Group boosted their price objective on shares of Ares Management from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $46.00 target price (up previously from $41.00) on shares of Ares Management in a research report on Friday, February 14th. Barclays lifted their target price on shares of Ares Management from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their target price on shares of Ares Management from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley lifted their target price on shares of Ares Management from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $39.45.

A number of institutional investors have recently modified their holdings of ARES. Sumitomo Mitsui Financial Group Inc. bought a new position in Ares Management in the 1st quarter worth $367,434,000. Wellington Management Group LLP lifted its stake in Ares Management by 122.9% in the 1st quarter. Wellington Management Group LLP now owns 6,625,147 shares of the asset manager’s stock worth $204,916,000 after purchasing an additional 3,652,486 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Ares Management in the 4th quarter worth $92,004,000. Invesco Ltd. lifted its stake in Ares Management by 44.6% in the 1st quarter. Invesco Ltd. now owns 3,306,512 shares of the asset manager’s stock worth $102,271,000 after purchasing an additional 1,019,978 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Ares Management by 75.6% in the 1st quarter. Franklin Resources Inc. now owns 1,575,500 shares of the asset manager’s stock worth $48,730,000 after purchasing an additional 678,200 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Ares Management Company Profile

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.

Further Reading: Diluted Earnings Per Share