Ares Management Co. (ARES) To Go Ex-Dividend on June 14th

Ares Management Co. (NYSE:ARES) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.93 per share by the asset manager on Friday, June 28th. This represents a $3.72 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, June 14th.

Ares Management has raised its dividend payment by an average of 24.4% annually 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 60.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ares Management to earn $5.76 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 64.6%.

Ares Management Stock Down 2.0 %

Shares of NYSE:ARES opened at $131.94 on Friday. Ares Management has a 1 year low of $77.97 and a 1 year high of $139.48. The stock has a 50-day simple moving average of $133.10 and a 200-day simple moving average of $121.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $40.85 billion, a P/E ratio of 55.21, a PEG ratio of 0.99 and a beta of 1.17.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). Ares Management had a net margin of 13.06% and a return on equity of 21.01%. The business had revenue of $707.36 million during the quarter, compared to analysts’ expectations of $814.88 million. During the same period in the prior year, the business posted $0.71 EPS. Equities analysts forecast that Ares Management will post 4.47 earnings per share for the current year.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $129.72, for a total transaction of $6,486,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Bennett Rosenthal sold 50,000 shares of Ares Management stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $129.72, for a total value of $6,486,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Kipp Deveer sold 82,796 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $136.47, for a total transaction of $11,299,170.12. Following the sale, the insider now owns 1,245,729 shares in the company, valued at approximately $170,004,636.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,494,440 shares of company stock worth $199,049,946. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ARES shares. JPMorgan Chase & Co. increased their target price on Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. UBS Group upped their target price on shares of Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada boosted their price objective on shares of Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, Jefferies Financial Group lowered Ares Management from a “buy” rating to a “hold” rating and set a $122.00 target price on the stock. in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $125.92.

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.