Apollo Global Management, Inc. (NYSE:APO) Raises Dividend to $0.46 Per Share

Apollo Global Management, Inc. (NYSE:APO) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.463 per share by the financial services provider on Friday, May 31st. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, May 16th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43.

Apollo Global Management has decreased its dividend by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 1 years. Apollo Global Management has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Apollo Global Management to earn $8.72 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.7%.

Apollo Global Management Stock Down 2.3 %

Shares of APO stock traded down $2.60 during trading on Friday, hitting $109.47. 3,300,741 shares of the company were exchanged, compared to its average volume of 2,358,690. The firm has a market capitalization of $62.20 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 0.90 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54. The business’s 50-day simple moving average is $111.15 and its 200 day simple moving average is $99.81. Apollo Global Management has a twelve month low of $57.50 and a twelve month high of $117.15.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The business had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $823.27 million. As a group, analysts forecast that Apollo Global Management will post 7.43 EPS for the current fiscal year.

Analyst Ratings Changes

APO has been the subject of several research reports. Morgan Stanley lifted their price target on Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Citigroup upped their price objective on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Keefe, Bruyette & Woods raised their target price on Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. TD Cowen initiated coverage on Apollo Global Management in a research report on Thursday, January 4th. They issued an “outperform” rating and a $115.00 price target for the company. Finally, Evercore ISI increased their price objective on Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $114.31.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the transaction, the insider now owns 44,104,773 shares of the company’s stock, valued at $4,915,035,903.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total value of $55,720,000.00. Following the sale, the insider now directly owns 44,104,773 shares in the company, valued at approximately $4,915,035,903.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Whitney Chatterjee sold 12,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total transaction of $1,333,200.00. Following the transaction, the insider now owns 123,901 shares in the company, valued at approximately $13,765,401.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,426,000 shares of company stock valued at $158,226,960. 8.70% of the stock is owned by company insiders.

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.