Apollo Global Management, Inc. (NYSE:APO) Plans Dividend Increase – $0.46 Per Share

Apollo Global Management, Inc. (NYSE:APO) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Investors of record on Monday, November 18th will be paid a dividend of 0.463 per share by the financial services provider on Friday, November 29th. This represents a $1.85 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Monday, November 18th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46.

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 22.1% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Apollo Global Management stock opened at $163.67 on Thursday. The company has a market cap of $93.21 billion, a PE ratio of 17.45, a PEG ratio of 1.55 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management has a 1 year low of $82.71 and a 1 year high of $166.72. The company’s 50-day moving average is $130.21 and its two-hundred day moving average is $120.07.

Analyst Upgrades and Downgrades

APO has been the subject of a number of analyst reports. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Evercore ISI raised their target price on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday. Redburn Partners started coverage on Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. Redburn Atlantic started coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.83.

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.