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

Apollo Global Management, Inc. (NYSE:APO) declared a quarterly dividend on Thursday, August 1st, NASDAQ reports. Investors of record on Friday, August 16th will be given 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 1.72%. 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% per year over the last three years. Apollo Global Management has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. 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 7.5 %

NYSE:APO opened at $107.33 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. Apollo Global Management has a twelve month low of $77.11 and a twelve month high of $126.45. The company has a market cap of $60.98 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 1.03 and a beta of 1.59. The business has a 50 day moving average price of $118.57 and a two-hundred day moving average price of $112.41.

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

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the sale, the chief financial officer now owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of several research reports. StockNews.com raised Apollo Global Management from a “sell” rating to a “hold” rating in a report on Monday. 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 note on Friday, July 12th. JMP Securities reissued a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Evercore ISI upped their price objective on shares of Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, TD Cowen boosted their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.29.

About Apollo Global Management

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.