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

Ares Management Co. (NYSE:ARES) announced a quarterly dividend on Friday, November 1st, Zacks 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 2.30%. The ex-dividend date of this dividend is Tuesday, December 17th.

Ares Management has increased its dividend by an average of 24.4% per year over the last three years and has increased its dividend every year for the last 6 years. Ares Management has a dividend payout ratio of 65.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ares Management to earn $5.72 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 65.0%.

Ares Management Stock Down 3.5 %

Shares of ARES traded down $5.81 during midday trading on Friday, hitting $161.87. 2,488,037 shares of the company’s stock traded hands, compared to its average volume of 1,151,557. Ares Management has a 1 year low of $101.44 and a 1 year high of $171.78. The firm’s fifty day moving average is $155.87 and its 200-day moving average is $145.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $50.66 billion, a price-to-earnings ratio of 84.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The company had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same quarter last year, the business posted $0.90 EPS. As a group, sell-side analysts anticipate that Ares Management will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on ARES shares. The Goldman Sachs Group raised their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Morgan Stanley raised their price objective on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. UBS Group raised their price objective on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. TD Cowen raised their price objective on Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price objective on Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and an average price target of $159.18.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider Ryan Berry sold 40,000 shares of Ares Management stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total value of $6,719,600.00. Following the sale, the insider now owns 304,202 shares in the company, valued at $51,102,893.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ryan Berry sold 40,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total value of $6,719,600.00. Following the sale, the insider now owns 304,202 shares in the company, valued at approximately $51,102,893.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David B. Kaplan sold 19,262 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $146.74, for a total value of $2,826,505.88. Following the completion of the sale, the insider now owns 81,287 shares in the company, valued at $11,928,054.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 622,640 shares of company stock worth $91,378,848 over the last quarter. 1.20% of the stock is currently owned by company insiders.

About Ares Management

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.