Ares Management is trading 4.27% down at $122.30 after the Federal Reserve raised rates by 25 basis points and signaled another hike, pressuring financial stocks and rate-sensitive asset managers.
- The company’s $1.35 per-share dividend went ex-dividend on September 16, creating additional technical downward pressure.
- Financials are down 1.54% during regular trading, while the Dow is down 1.35%.