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

Apollo Global Management, Inc. (NYSE:APO) declared a quarterly dividend on Thursday, August 1st, NASDAQ reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.4625 per share by the financial services provider on Friday, August 30th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, August 16th.

Apollo Global Management has decreased its dividend payment by an average of 9.9% annually over the last three years. Apollo Global Management has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apollo Global Management to earn $8.70 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 21.3%.

Apollo Global Management Trading Down 7.4 %

Shares of APO traded down $9.30 during trading hours on Thursday, hitting $116.01. The stock had a trading volume of 8,725,981 shares, compared to its average volume of 2,413,543. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $65.91 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.01 and a beta of 1.59. The company’s fifty day simple moving average is $118.57 and its 200 day simple moving average is $112.41. Apollo Global Management has a 12-month low of $77.11 and a 12-month high of $126.45.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.21). The firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $827.33 million. Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. Equities research analysts forecast that Apollo Global Management will post 7.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APO. TD Cowen increased their target price on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. BMO Capital Markets raised their price objective on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods raised their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. JMP Securities reissued a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Finally, StockNews.com raised Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.29.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the sale, the chief financial officer now owns 359,445 shares of the company’s stock, valued at $40,002,634.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.