Apollo Global Management, Inc. (NYSE:APO) Plans Quarterly Dividend of $0.46

Apollo Global Management, Inc. (NYSE:APO) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.463 per share by the financial services provider on Friday, November 29th. This represents a $1.85 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46.

Apollo Global Management has decreased its dividend by an average of 9.9% annually over the last three years. Apollo Global Management has a dividend payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Apollo Global Management to earn $8.03 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 23.0%.

Apollo Global Management Stock Up 9.8 %

APO stock traded up $14.66 during trading hours on Wednesday, hitting $163.93. The company’s stock had a trading volume of 4,016,291 shares, compared to its average volume of 2,613,095. The company has a market capitalization of $93.36 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.55 and a beta of 1.59. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $129.21 and a two-hundred day moving average price of $119.76. Apollo Global Management has a 12 month low of $82.71 and a 12 month high of $166.72.

Wall Street Analyst Weigh In

APO has been the subject of a number of recent research reports. The Goldman Sachs Group upped their target price on Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their price target on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and cut their price objective for the company from $124.00 to $123.00 in a report on Tuesday, August 6th. Redburn Partners initiated coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price for the company. Finally, Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $144.61.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.