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

Apollo Global Management, Inc. (NYSE:APO) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.463 per share by the financial services provider on Friday, May 31st. This represents a $1.85 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend 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 payment by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Apollo Global Management has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

APO stock traded down $2.60 during midday trading on Friday, reaching $109.47. 3,300,741 shares of the company’s stock traded hands, compared to its average volume of 2,358,690. The stock’s 50-day moving average is $111.15 and its 200 day moving average is $99.81. The stock has a market cap of $62.20 billion, a P/E ratio of 13.02, a PEG ratio of 0.90 and a beta of 1.61. Apollo Global Management has a 52-week low of $57.50 and a 52-week high of $117.15. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34.

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

Insiders Place Their Bets

In other news, insider Whitney Chatterjee sold 12,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total value of $1,333,200.00. Following the sale, the insider now directly owns 123,901 shares in the company, valued at $13,765,401.10. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Martin Kelly sold 14,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Whitney Chatterjee sold 12,000 shares of the 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 $13,765,401.10. The disclosure for this sale can be found here. Insiders sold a total of 1,426,000 shares of company stock valued at $158,226,960 over the last 90 days. Insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APO. Morgan Stanley raised their price objective on shares of Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Barclays decreased their target price on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen began coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They set an “outperform” rating and a $115.00 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company lifted their target price on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.31.

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.