Ares Management Co. (NYSE:ARES) Insider Sells $14,998,848.66 in Stock

Ares Management Co. (NYSE:ARES - Get Free Report) insider R. Kipp Deveer sold 78,933 shares of Ares Management stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $190.02, for a total transaction of $14,998,848.66. Following the completion of the transaction, the insider now owns 1,150,000 shares in the company, valued at $218,523,000. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

R. Kipp Deveer also recently made the following trade(s):

• On Friday, December 6th, R. Kipp Deveer sold 115,838 shares of Ares Management stock. The shares were sold at an average price of $177.83, for a total value of $20,599,471.54.

Ares Management Price Performance

Shares of NYSE:ARES traded up $1.72 during trading on Friday, hitting $186.11. 784,863 shares of the company were exchanged, compared to its average volume of 1,057,565. 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 1-year low of $125.23 and a 1-year high of $200.49. The company has a market capitalization of $58.26 billion, a P/E ratio of 91.68, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. The business's 50 day moving average is $184.48 and its 200-day moving average is $166.70.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. Equities analysts forecast that Ares Management Co. will post 5.53 earnings per share for the current year.

Ares Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $1.12 dividend. The ex-dividend date is Monday, March 17th. This is an increase from Ares Management's previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a dividend yield of 2.41%. Ares Management's dividend payout ratio (DPR) is currently 183.25%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARES. StockNews.com cut shares of Ares Management from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on Ares Management from $176.00 to $174.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $166.00 to $202.00 in a research report on Friday, December 20th. Wells Fargo & Company increased their price objective on shares of Ares Management from $207.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada upped their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $176.17.

Institutional Trading of Ares Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in shares of Ares Management by 6.5% in the third quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager's stock valued at $10,195,000 after buying an additional 4,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in Ares Management by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager's stock worth $106,436,000 after buying an additional 36,476 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Ares Management by 31.2% in the third quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager's stock worth $3,545,000 after purchasing an additional 5,404 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ares Management by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager's stock worth $1,284,773,000 after buying an additional 679,462 shares during the last quarter. Finally, Caldwell Investment Management Ltd. increased its stake in Ares Management by 134.1% in the fourth quarter. Caldwell Investment Management Ltd. now owns 10,300 shares of the asset manager's stock valued at $1,842,000 after acquiring an additional 5,900 shares during the last quarter. Institutional investors own 50.03% of the company's stock.

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.