Bennett Rosenthal Sells 21,818 Shares of Ares Management Co. (NYSE:ARES) Stock

Posted by Defense World Staff on Oct 6th, 2023

Ares Management Co. (NYSE:ARES – Get Free Report) Chairman Bennett Rosenthal sold 21,818 shares of Ares Management stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $100.09, for a total transaction of $2,183,763.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bennett Rosenthal also recently made the following trade(s):

On Friday, September 15th, Bennett Rosenthal sold 150,000 shares of Ares Management stock. The shares were sold at an average price of $104.79, for a total transaction of $15,718,500.00.
On Tuesday, August 15th, Bennett Rosenthal sold 202,489 shares of Ares Management stock. The stock was sold at an average price of $98.47, for a total transaction of $19,939,091.83.

Ares Management Stock Performance

NYSE:ARES opened at $105.94 on Friday. The stock has a 50 day simple moving average of $102.13 and a 200 day simple moving average of $93.06. Ares Management Co. has a 1-year low of $58.60 and a 1-year high of $107.37. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market cap of $32.26 billion, a P/E ratio of 64.99, a PEG ratio of 1.01 and a beta of 1.31.

Ares Management (NYSE:ARES – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $725.82 million. Ares Management had a return on equity of 17.56% and a net margin of 8.79%. During the same quarter in the previous year, the company posted $0.74 EPS. Research analysts anticipate that Ares Management Co. will post 3.69 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, September 14th. Ares Management’s dividend payout ratio is 188.96%.

Analyst Ratings Changes

ARES has been the subject of several research reports. Keefe, Bruyette & Woods downgraded shares of Ares Management from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $99.00 to $98.00 in a research report on Monday, July 10th. The Goldman Sachs Group increased their price objective on shares of Ares Management from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. JPMorgan Chase & Co. raised their price target on shares of Ares Management from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Royal Bank of Canada raised their price target on shares of Ares Management from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company raised their target price on shares of Ares Management from $97.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $107.33.

Read Our Latest Stock Analysis on Ares Management

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ARES. Arlington Partners LLC raised its stake in Ares Management by 624.3% during the 2nd quarter. Arlington Partners LLC now owns 268 shares of the asset manager’s stock worth $26,000 after buying an additional 231 shares during the period. Park Place Capital Corp increased its holdings in Ares Management by 1,427.3% during the 1st quarter. Park Place Capital Corp now owns 336 shares of the asset manager’s stock worth $28,000 after purchasing an additional 314 shares in the last quarter. Harbour Investments Inc. increased its holdings in Ares Management by 210.5% during the 1st quarter. Harbour Investments Inc. now owns 354 shares of the asset manager’s stock worth $30,000 after purchasing an additional 240 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Ares Management by 300.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after purchasing an additional 300 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Ares Management by 951.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 515 shares of the asset manager’s stock worth $35,000 after purchasing an additional 466 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

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.