Top 5 Dividend Stock Picks of Chuck Royce’s Royce & Associates

In this article, we discuss the top 5 dividend stock picks of Chuck Royce’s Royce & Associates. If you want to read our detailed analysis of the hedge fund’s past performance and investment strategies, go directly to read the Top 10 Dividend Stock Picks of Chuck Royce’s Royce & Associates. 

5. Ares Management Corporation (NYSE:ARES)

Number of Hedge Fund Holders: 29
Dividend Yield as of March 2: 3.08%
Royce & Associates’ Stake Value: $60,283,000

Ares Management Corporation (NYSE:ARES) is an American global asset management company. In Q4 2021, there was a notable surge in the number of hedge funds holding stakes in ARES. According to Insider Monkey’s Q4 data, 29 hedge funds were long Ares Management Corporation (NYSE:ARES) on December 31, up from 22 in the previous quarter. Those stakes were valued at roughly $791 million.

Royce & Associates started investing in Ares Management Corporation (NYSE:ARES) during the fourth quarter of 2018. The hedge fund reduced its position in the company by 10% in Q4 to hold a stake worth over $60.3 million. The position represented 0.45% of Chuck Royce’s 13Fportfolio.

On February 11, Ares Management Corporation (NYSE:ARES) announced a quarterly dividend of $0.61 per share, up 11% from its previous dividend. The stock’s dividend yield, as of March 2, is recorded to be at 3.08%. Ares Management Corporation (NYSE:ARES) has been paying dividends to shareholders consistently for the past seven years.

In the light of the company’s solid Q4 results, BMO Capital raised its price target on Ares Management Corporation (NYSE:ARES) to $97 in February, and has an ‘Outperform’ rating on the shares.