LOS ANGELES—Berry Ryan, Chief Marketing and Strategy Officer at Ares Management Corp (NYSE:ARES), recently sold a significant portion of the company's Class A Common Stock. The sale comes as Ares trades near its 52-week high of $180.38, with the stock delivering an impressive 51% return year-to-date, according to InvestingPro data. According to a filing with the Securities and Exchange Commission, Ryan sold 5,443 shares on December 9, 2024, with the transaction amounting to approximately $980,502. The shares were sold at a weighted average price of $180.14, with individual sale prices ranging from $180.00 to $180.33. This transaction occurred as the $55 billion market cap company trades at a P/E ratio of nearly 80, suggesting a premium valuation.
Following this transaction, Ryan retains direct ownership of 247,771 shares. The filing also notes additional indirect holdings through various accounts, including retirement savings plans and joint tenancy with a spouse, totaling thousands more shares. The sale was conducted under a pre-established 10b5-1 trading plan, adopted in June 2024, which allows insiders to set up a predetermined schedule for selling company stock. InvestingPro analysis reveals 12 additional key insights about Ares's valuation and performance metrics, available in the comprehensive Pro Research Report.
In other recent news, Ares Management Corporation showcased robust growth in its recent earnings reports. The firm reported an 18% rise in management fees, a 24% increase in fee-related earnings, and 28% growth in realized income. Ares also deployed nearly $30 billion in the quarter, contributing to a total of $74.6 billion for the year and raised nearly $21 billion in the third quarter alone. RBC (TSX:RY) Capital Markets has updated its outlook on Ares Management, lifting the investment firm's price target from $185.00 to $205.00. The analyst maintained an Outperform rating on the stock, indicating a positive view on the company's future performance. The rationale behind the price target increase is Ares Management's robust standing as a leading entity in the private credit sector. Despite this, Ares 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. These developments highlight a period of strong performance and optimism for Ares Management Corporation.
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