Ares Management Co. (NYSE:ARES – Get Free Report) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors of record on Monday, March 17th will be given a dividend of 1.12 per share by the asset manager on Monday, March 31st. This represents a $4.48 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Ares Management’s previous quarterly dividend of $0.93.
Ares Management has increased its dividend by an average of 25.5% annually over the last three years. Ares Management has a payout ratio of 67.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ares Management to earn $5.56 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 80.6%.
Ares Management Trading Down 0.7 %
Shares of ARES stock opened at $190.36 on Friday. The stock’s fifty day moving average is $183.41 and its two-hundred day moving average is $165.35. The firm has a market capitalization of $59.59 billion, a P/E ratio of 87.72, a PEG ratio of 1.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management has a fifty-two week low of $125.23 and a fifty-two week high of $200.49.
Insider Transactions at Ares Management
In other news, insider Ryan Berry sold 14,357 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total value of $2,586,557.12. Following the completion of the transaction, the insider now directly owns 233,214 shares of the company’s stock, valued at $42,015,834.24. The trade was a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 20,048 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.44, for a total transaction of $3,356,837.12. Following the completion of the transaction, the chairman now directly owns 229,952 shares of the company’s stock, valued at $38,503,162.88. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 555,838 shares of company stock valued at $96,785,773 in the last 90 days. 41.89% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on ARES. StockNews.com downgraded shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their target price on Ares Management from $207.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $166.00 to $202.00 in a report on Friday, December 20th. TD Cowen increased their price target on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada lifted their price objective on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus target price of $176.17.
Get Our Latest Stock Analysis on ARES
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.
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