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

Apollo Global Management, Inc. (NYSE:APO) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.4625 per share by the financial services provider on Friday, February 28th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Tuesday, February 18th.

Apollo Global Management has decreased its dividend by an average of 4.7% annually over the last three years. Apollo Global Management has a payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 2.0 %

Apollo Global Management stock opened at $165.84 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a market capitalization of $93.84 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.63. The stock has a 50-day moving average price of $169.55 and a 200 day moving average price of $144.25.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on APO shares. Barclays lifted their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. TD Cowen lifted their price target on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Citigroup lifted their price target on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. UBS Group upgraded Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets boosted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock worth $34,186,128 over the last three months. 8.50% of the stock is currently 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, 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.