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

Ares Management Co. (NYSE:ARES) declared a quarterly dividend on Friday, August 2nd, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.93 per share by the asset manager on Monday, September 30th. This represents a $3.72 dividend on an annualized basis and a dividend 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% per year over the last three years and has raised its dividend every year for the last 6 years. Ares Management has a payout ratio of 64.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.5 %

Shares of ARES stock opened at $147.40 on Friday. The company has a market capitalization of $46.13 billion, a PE ratio of 66.10, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. Ares Management has a 52-week low of $96.00 and a 52-week high of $155.53. The business’s fifty day moving average is $143.52 and its 200 day moving average is $138.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter last year, the firm posted $0.90 EPS. On average, equities research analysts anticipate that Ares Management will post 4.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ARES. Redburn Atlantic initiated coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. Barclays increased their target price on Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $150.00 price objective on shares of Ares Management in a report on Wednesday, May 22nd. Wells Fargo & Company started coverage on Ares Management in a report on Thursday. They set an “equal weight” rating and a $156.00 price objective on the stock. Finally, TD Cowen upped their target price on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.42.

Insider Buying and Selling at Ares Management

In related 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 transaction of $19,791,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Michael J. Arougheti sold 27,120 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the transaction, the chief executive officer now owns 222,880 shares in the company, valued at approximately $32,466,929.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 150,000 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 779,315 shares of company stock valued at $109,487,356 in the last quarter. Company 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.