Ares Management Co. Declares Quarterly Dividend of $0.93 (NYSE:ARES)

Ares Management Co. (NYSE:ARES) declared a quarterly dividend on Friday, November 1st,Zacks Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Tuesday, December 17th.

Ares Management has increased its dividend by an average of 24.4% annually over the last three years. Ares Management has a dividend payout ratio of 67.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Down 0.2 %

Shares of ARES opened at $182.45 on Friday. Ares Management has a 12-month low of $112.83 and a 12-month high of $185.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $57.12 billion, a PE ratio of 84.08, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The business’s 50 day moving average is $170.12 and its 200 day moving average is $152.69.

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

Insider Buying and Selling

In related news, Chairman Bennett Rosenthal sold 20,048 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,356,837.12. Following the sale, the chairman now directly owns 229,952 shares of the company’s stock, valued at $38,503,162.88. This represents a 8.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan Berry sold 14,357 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the completion of the sale, the insider now directly owns 233,214 shares of the company’s stock, valued at approximately $42,015,834.24. The trade was a 5.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 659,167 shares of company stock worth $113,702,897 over the last three months. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on ARES shares. Barclays boosted their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. The Goldman Sachs Group boosted their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded Ares Management from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $176.00 to $212.00 in a report on Thursday. Redburn Atlantic assumed coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ares Management currently has a consensus rating of “Hold” and a consensus price target of $169.64.

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.