Apollo Global Management LLC (NYSE:APO) declared a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Stockholders of record on Tuesday, August 18th will be given a dividend of 0.49 per share by the financial services provider on Monday, August 31st. This represents a $1.96 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Monday, August 17th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.42.
Apollo Global Management has raised its dividend by an average of 61.6% per year over the last three years and has raised its dividend every year for the last 3 years. Apollo Global Management has a payout ratio of 88.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Apollo Global Management to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 63.4%.
APO opened at $49.10 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10. The company’s 50 day simple moving average is $50.71 and its two-hundred day simple moving average is $44.46. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of -153.44, a price-to-earnings-growth ratio of 1.52 and a beta of 1.65. Apollo Global Management has a 1-year low of $19.46 and a 1-year high of $55.38.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.02). The company had revenue of $467.01 million for the quarter, compared to analysts’ expectations of $442.94 million. Apollo Global Management had a return on equity of 38.25% and a net margin of 31.68%. During the same quarter in the previous year, the business posted $0.58 EPS. On average, equities analysts anticipate that Apollo Global Management will post 1.95 earnings per share for the current fiscal year.
In other Apollo Global Management news, Director Marc J. Rowan sold 486,519 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $44.76, for a total transaction of $21,776,590.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Anthony Civale sold 60,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $46.69, for a total transaction of $2,801,400.00. The disclosure for this sale can be found here. Insiders sold a total of 1,187,598 shares of company stock worth $51,642,778 in the last quarter. Company insiders own 46.90% of the company’s stock.
Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price target on Apollo Global Management from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Bank of America reduced their target price on shares of Apollo Global Management from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Cfra boosted their target price on shares of Apollo Global Management from $43.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Keefe, Bruyette & Woods raised their price target on shares of Apollo Global Management from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BMO Capital Markets cut Apollo Global Management from an “outperform” rating to a “market perform” rating and set a $43.00 price objective on the stock. in a report on Thursday, May 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.29.
About Apollo Global Management
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
Featured Article: How Do You Make Money With Penny Stocks?
Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.