Ares Management Corp (NYSE:ARES) Co-Founder and Executive Chairman Antony P. Ressler has sold a total of $11,834,085 worth of company stock, according to recent filings with the Securities and Exchange Commission. The transactions occurred over two days, with a range of share prices between $131.87 and $134.53.
The series of sales were executed on March 27 and 28, 2024, under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This plan was adopted on December 15, 2023.
On the first day of the transactions, Ressler sold shares at prices that ranged from $131.17 to $134.68, with the weighted average prices for the batches being $131.87, $132.65, and $133.36. The following day, shares were sold at weighted average prices of $131.88, $133.05, and $133.59, within a range of $131.36 to $133.88.
The filings indicate that the sales were indirectly made through TJ Capital Investors, LLC, a vehicle controlled by Ressler. The transactions have notably reduced Ressler's indirect holdings, although he still indirectly owns a substantial number of shares through Ares Owners Holdings L.P., as indicated by the footnotes in the SEC filing.
Investors often monitor insider sales for insights into executive sentiment regarding their company's stock, although sales under 10b5-1 plans are typically seen as less indicative of insider sentiment given their pre-arranged nature.
InvestingPro Insights
As Ares Management Corp (NYSE:ARES) experiences changes in insider stock transactions, investors seeking deeper insights can turn to InvestingPro for real-time data and analytics. A notable InvestingPro Tip highlights that ARES has raised its dividend for four consecutive years, which could be a signal of the company's commitment to returning value to shareholders. Additionally, ARES is expected to see net income growth this year, providing a potentially positive outlook for the company's financial performance.
From a valuation perspective, ARES currently has a market capitalization of $41.26 billion, reflecting its size and market presence. The company's P/E ratio stands at 54.18, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 69.93. This suggests that investors are willing to pay a premium for ARES's earnings, possibly due to expectations of future growth. Furthermore, the PEG ratio for the same period is 0.32, indicating that the stock may be undervalued relative to its earnings growth projections.
Investors should note that ARES's Price / Book ratio as of the last twelve months of Q4 2023 is 21.76, which is relatively high and could suggest the stock is priced at a premium compared to the company's book value. For those interested in exploring further insights, InvestingPro offers additional tips on ARES, and users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of financial analytics and data.
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