Ares Management Co. (ARES) To Go Ex-Dividend on December 17th

Ares Management Co. (NYSE:ARES) announced a quarterly dividend on Friday, November 1st, Zacks reports. Shareholders 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 2.30%. 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 raised its dividend annually for the last 6 consecutive years. Ares Management has a dividend payout ratio of 65.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 3.5 %

Shares of ARES stock opened at $161.87 on Friday. Ares Management has a 1 year low of $101.44 and a 1 year high of $171.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $155.87 and its two-hundred day simple moving average is $145.45. The company has a market cap of $50.66 billion, a PE ratio of 84.31, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. During the same period in the prior year, the business posted $0.90 earnings per share. Research analysts predict that Ares Management will post 4.11 earnings per share for the current year.

Insiders Place Their Bets

In other Ares Management news, insider David B. Kaplan sold 27,068 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the sale, the insider now owns 222,932 shares of the company’s stock, valued at approximately $32,474,504.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ares Management news, insider Ryan Berry sold 57,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the sale, the insider now owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David B. Kaplan sold 27,068 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,942,995.56. Following the sale, the insider now directly owns 222,932 shares in the company, valued at $32,474,504.44. This trade 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 in the last ninety days. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price target on Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley increased their price target on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada increased their price target on Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. JPMorgan Chase & Co. increased their price target on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group increased their price target on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $159.18.

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.