Ares Management LP (ARES) to Issue Quarterly Dividend of $0.20 on December 5th
Ares Management LP (NYSE:ARES) declared a quarterly dividend on Monday, November 7th. Stockholders of record on Monday, November 21st will be paid a dividend of 0.20 per share on Monday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Thursday, November 17th.
Ares Management (NYSE:ARES) opened at 16.90 on Friday. The stock has a market cap of $3.62 billion, a PE ratio of 19.56 and a beta of 1.14. Ares Management has a 12 month low of $10.72 and a 12 month high of $19.54. The stock has a 50 day moving average price of $17.42 and a 200-day moving average price of $16.12.
Ares Management (NYSE:ARES) last released its quarterly earnings results on Monday, November 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.08. Ares Management had a return on equity of 25.44% and a net margin of 7.79%. The company earned $335.46 million during the quarter, compared to analysts’ expectations of $166 million. On average, analysts expect that Ares Management will post $1.24 EPS for the current year.
Several large investors have recently made changes to their positions in ARES. American Century Companies Inc. increased its stake in shares of Ares Management by 4.2% in the second quarter. American Century Companies Inc. now owns 1,001,565 shares of the company’s stock valued at $14,112,000 after buying an additional 40,361 shares in the last quarter. Raymond James & Associates bought a new stake in shares of Ares Management during the second quarter valued at approximately $184,000. KCG Holdings Inc. bought a new stake in shares of Ares Management during the third quarter valued at approximately $176,000. Morgan Stanley increased its stake in shares of Ares Management by 2.3% in the third quarter. Morgan Stanley now owns 181,322 shares of the company’s stock valued at $3,157,000 after buying an additional 4,044 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its stake in shares of Ares Management by 4.6% in the third quarter. BlackRock Investment Management LLC now owns 43,016 shares of the company’s stock valued at $749,000 after buying an additional 1,900 shares in the last quarter. 10.20% of the stock is owned by institutional investors and hedge funds.
ARES has been the subject of several recent analyst reports. Zacks Investment Research cut Ares Management from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. TheStreet upgraded Ares Management from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Bank of America Corp. lowered Ares Management from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th. They noted that the move was a valuation call. Morgan Stanley set a $15.00 price objective on Ares Management and gave the company a “hold” rating in a report on Thursday, August 11th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Ares Management in a report on Tuesday, September 20th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.60.
About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company operates through four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. Its Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets and manages various types of investment funds, ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors.
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