Ares Management Co. (ARES) to Issue Quarterly Dividend of $0.93 on December 31st

Ares Management Co. (NYSE:ARES) announced a quarterly dividend on Friday, November 1st,Zacks Dividends reports. Investors of record on Tuesday, December 17th will be paid a dividend of 0.93 per share by the asset manager on Tuesday, December 31st. This represents a $3.72 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Tuesday, December 17th.

Ares Management has raised its dividend payment by an average of 24.4% annually over the last three years. Ares Management has a dividend payout ratio of 67.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ares Management to earn $5.58 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 66.7%.

Ares Management Stock Performance

Ares Management stock opened at $182.45 on Friday. Ares Management has a fifty-two week low of $112.83 and a fifty-two week high of $185.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $57.12 billion, a P/E ratio of 84.08, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The firm’s fifty day moving average price is $170.12 and its 200-day moving average price is $152.69.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period last year, the firm posted $0.83 EPS. On average, equities research analysts expect that Ares Management will post 4.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARES. The Goldman Sachs Group increased their price objective on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. TD Cowen raised their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. 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, October 7th. StockNews.com cut Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $169.64.

Insider Activity at Ares Management

In other Ares Management news, insider Ryan Berry sold 1,671 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $175.00, for a total value of $292,425.00. Following the transaction, the insider now owns 253,214 shares of the company’s stock, valued at approximately $44,312,450. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 20,048 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $167.44, for a total transaction of $3,356,837.12. Following the completion of the transaction, the chairman now directly owns 229,952 shares in the company, valued at approximately $38,503,162.88. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 659,167 shares of company stock valued at $113,702,897 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Ares Management Company Profile

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.