Ares Management Co. (NYSE:ARES) Insider R. Kipp Deveer Sells 78,933 Shares of Stock

Ares Management Co. (NYSE:ARES) insider R. Kipp Deveer sold 78,933 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $190.02, for a total value of $14,998,848.66. Following the transaction, the insider now owns 1,150,000 shares in the company, valued at $218,523,000. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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 stock was sold at an average price of $177.83, for a total transaction of $20,599,471.54.

Ares Management Stock Performance

Shares of ARES stock opened at $189.90 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50-day moving average of $183.68 and a 200-day moving average of $165.88. Ares Management Co. has a one year low of $125.23 and a one year high of $200.49. The company has a market cap of $59.45 billion, a P/E ratio of 93.55, a P/E/G ratio of 1.46 and a beta of 1.18.

Ares Management (NYSE:ARES) last posted its quarterly earnings data 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 net margin of 11.35% and a return on equity of 16.64%. Equities research analysts forecast that Ares Management Co. will post 5.53 EPS for the current fiscal year.

Ares Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $1.12 per share. This is a positive change from Ares Management’s previous quarterly dividend of $0.93. This represents a $4.48 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Monday, March 17th. Ares Management’s dividend payout ratio (DPR) is 183.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Evoke Wealth LLC boosted its holdings in shares of Ares Management by 17.2% in the 4th quarter. Evoke Wealth LLC now owns 1,600 shares of the asset manager’s stock worth $283,000 after buying an additional 235 shares during the last quarter. Signaturefd LLC raised its position in Ares Management by 8.5% in the fourth quarter. Signaturefd LLC now owns 2,181 shares of the asset manager’s stock worth $386,000 after acquiring an additional 170 shares during the period. Harbour Investments Inc. boosted its stake in Ares Management by 25.6% in the fourth quarter. Harbour Investments Inc. now owns 398 shares of the asset manager’s stock valued at $70,000 after acquiring an additional 81 shares during the last quarter. Avalon Trust Co purchased a new position in Ares Management in the fourth quarter valued at about $53,000. Finally, Natixis Advisors LLC grew its position in shares of Ares Management by 5.4% during the 4th quarter. Natixis Advisors LLC now owns 41,757 shares of the asset manager’s stock valued at $7,393,000 after acquiring an additional 2,156 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ARES shares. Barclays dropped their price objective on shares of Ares Management from $224.00 to $217.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. UBS Group increased their price target on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. TD Cowen raised their price objective on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, JMP Securities reissued a “market perform” rating on shares of Ares Management in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.17.

About Ares Management

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.