Ares Management Co. (ARES) To Go Ex-Dividend on September 16th

Ares Management Co. (NYSE:ARES) declared a quarterly dividend on Friday, August 2nd, Zacks reports. Investors of record on Monday, September 16th will be paid a dividend of 0.93 per share by the asset manager on Monday, September 30th. This represents a $3.72 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, September 16th.

Ares Management has raised its dividend payment by an average of 24.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Ares Management has a dividend payout ratio of 64.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ares Management to earn $5.80 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 64.1%.

Ares Management Price Performance

Shares of NYSE:ARES opened at $147.39 on Friday. The stock’s 50 day moving average is $143.52 and its 200-day moving average is $138.54. Ares Management has a twelve month low of $96.00 and a twelve month high of $155.53. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $46.13 billion, a price-to-earnings ratio of 66.09, a PEG ratio of 1.33 and a beta of 1.21.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the prior year, the business posted $0.90 EPS. Sell-side analysts forecast that Ares Management will post 4.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Redburn Atlantic started coverage on Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Wells Fargo & Company started coverage on shares of Ares Management in a research report on Thursday. They issued an “equal weight” rating and a $156.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. UBS Group lowered their price target on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Barclays upped their price objective on Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $141.42.

Insider Buying and Selling at Ares Management

In other news, Chairman Bennett Rosenthal sold 150,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $19,791,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Bennett Rosenthal sold 150,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The disclosure for this sale can be found here. Insiders have sold 779,315 shares of company stock worth $109,487,356 over the last ninety days. Insiders own 1.20% of the company’s stock.

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.