These transactions were carried out under a 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks. This plan was adopted on December 14, 2023. Following these sales, Arougheti's indirect ownership, managed through Atticus Enterprises LLC, now stands at zero shares. However, he still holds 1,375,000 restricted units of Class A Common Stock, which are set to vest according to the company's equity incentive plan.Ares Management (NYSE:ARES) Corp, based in Los Angeles, is a leading global alternative investment manager with a market capitalization of $54.6 billion. The company maintains a strong dividend track record, having raised dividends for 5 consecutive years, with a current yield of 2.14%. The recent stock sales by its CEO are part of routine transactions, reflecting strategic financial planning. For comprehensive insights into ARES's valuation and performance metrics, including 13 additional ProTips, visit InvestingPro.
These transactions were carried out under a 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks. This plan was adopted on December 14, 2023. Following these sales, Arougheti's indirect ownership, managed through Atticus Enterprises LLC, now stands at zero shares. However, he still holds 1,375,000 restricted units of Class A Common Stock, which are set to vest according to the company's equity incentive plan.
Ares Management Corp, based in Los Angeles, is a leading global alternative investment manager. The recent stock sales by its CEO are part of routine transactions, reflecting strategic financial planning.
In other recent news, Ares Management Corporation has reported robust growth in its third-quarter earnings. The company has seen an 18% rise in management fees, a 24% increase in fee-related earnings, and a 28% growth in realized income. The firm has also been active in the global market, deploying nearly $30 billion in the quarter, contributing to a total of $74.6 billion for the year. Record-breaking fundraising efforts have also been noted, with nearly $21 billion raised in the third quarter alone.
RBC Capital Markets has updated its outlook on Ares Management, increasing the price target to $185 from the previous $170 while maintaining an Outperform rating on the company's shares. The adjustment reflects a revised perspective on the firm's financial potential and its position within the private credit sector. Despite a slight revision down in the Earnings Per Share estimates, RBC Capital cites the company's fundraising resilience as a key factor in maintaining a positive outlook.
However, Ares Management anticipates a decrease in the Fee-Related Earnings margin to around 40% in Q4 due to increased compensation costs. Nonetheless, the company projects strong Q4 performance with anticipated fee-related performance revenues between $160 million and $170 million and expects continued growth in Assets Under Management and performance income in 2025 and beyond.
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