Ryan Berry Sells 20,000 Shares of Ares Management Co. (NYSE:ARES) Stock

10 Oct 2024, 04:47 by Doug Wharley · The Cerbat Gem

Ares Management Co. (NYSE:ARES – Get Free Report) insider Ryan Berry sold 20,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $160.07, for a total value of $3,201,400.00. Following the transaction, the insider now owns 344,202 shares in the company, valued at $55,096,414.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ryan Berry also recently made the following trade(s):

On Wednesday, September 18th, Ryan Berry sold 12,500 shares of Ares Management stock. The stock was sold at an average price of $154.40, for a total transaction of $1,930,000.00.
On Monday, September 16th, Ryan Berry sold 12,500 shares of Ares Management stock. The shares were sold at an average price of $148.42, for a total transaction of $1,855,250.00.
On Thursday, September 12th, Ryan Berry sold 1 shares of Ares Management stock. The stock was sold at an average price of $144.01, for a total transaction of $144.01.
On Monday, September 9th, Ryan Berry sold 10,000 shares of Ares Management stock. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00.
On Thursday, September 5th, Ryan Berry sold 57,500 shares of Ares Management stock. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00.

Ares Management Stock Performance

Ares Management stock opened at $158.16 on Thursday. The stock has a market cap of $49.00 billion, a price-to-earnings ratio of 69.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $147.42 and a 200-day simple moving average of $141.31. Ares Management Co. has a 1-year low of $96.00 and a 1-year high of $161.56.

Ares Management (NYSE:ARES – Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period in the prior year, the business posted $0.90 EPS. On average, analysts expect that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio is presently 166.82%.

Institutional Investors Weigh In On Ares Management

Institutional investors and hedge funds have recently made changes to their positions in the stock. Compass Wealth Management LLC purchased a new stake in shares of Ares Management in the 1st quarter valued at $28,000. Riverview Trust Co purchased a new stake in Ares Management during the first quarter worth about $29,000. West Oak Capital LLC lifted its position in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in shares of Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 244 shares during the period. Finally, Key Financial Inc acquired a new position in shares of Ares Management in the second quarter valued at approximately $53,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Wednesday. UBS Group lowered their target price on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Redburn Atlantic assumed coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Barclays upped their price objective on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average target price of $150.00.

Read Our Latest Stock Analysis on ARES

Ares Management Company Profile

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