Ares Management Corporation (ARES) To Go Ex-Dividend on March 17th

Ares Management Corporation (NYSE:ARES) declared a quarterly dividend on Thursday, February 5th. Stockholders of record on Tuesday, March 17th will be given a dividend of 1.35 per share by the asset manager on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a 60.0% increase from Ares Management’s previous quarterly dividend of $0.84.

Ares Management has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Ares Management has a dividend payout ratio of 68.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Ares Management to earn $6.65 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 67.4%.

Ares Management Stock Up 7.3%

NYSE:ARES opened at $130.74 on Friday. The stock has a 50-day simple moving average of $162.98 and a 200 day simple moving average of $165.32. Ares Management has a 52-week low of $110.63 and a 52-week high of $195.26. The company has a market cap of $42.73 billion, a PE ratio of 77.36, a PEG ratio of 0.70 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22.

Ares Management (NYSE:ARES) last released its earnings results on Thursday, February 5th. The asset manager reported $1.45 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.26). The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.38 billion. Ares Management had a net margin of 9.41% and a return on equity of 19.26%. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, sell-side analysts expect that Ares Management will post 5.28 EPS for the current fiscal year.

Insider Activity at Ares Management

In related news, CEO Michael J. Arougheti sold 56,257 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $157.26, for a total value of $8,846,975.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 590,000 shares of company stock worth $90,653,808. Insiders own 36.86% of the company’s stock.

Institutional Investors Weigh In On Ares Management

A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Ares Management by 116.7% during the 1st quarter. AQR Capital Management LLC now owns 10,360 shares of the asset manager’s stock worth $1,519,000 after purchasing an additional 5,579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ares Management by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after acquiring an additional 70 shares during the period. Empowered Funds LLC grew its stake in shares of Ares Management by 42.7% in the first quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock valued at $909,000 after acquiring an additional 1,853 shares in the last quarter. Focus Partners Wealth increased its position in Ares Management by 15.3% during the first quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager’s stock worth $279,000 after acquiring an additional 252 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Ares Management by 708.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 432 shares during the period. Institutional investors own 50.03% of the company’s stock.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.