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

Apollo Global Management, Inc. (NYSE:APO) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors 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 an increase 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% annually 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% meaning 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 Price Performance

Shares of Apollo Global Management stock opened at $109.47 on Friday. The stock 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 firm’s 50-day moving average price is $111.11 and its two-hundred day moving average price is $99.97. 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 has a 1-year low of $57.50 and a 1-year high of $117.15.

Apollo Global Management (NYSE:APO) last released its quarterly 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 business had revenue of $795.00 million for the quarter, compared to analyst estimates of $823.27 million. On average, equities analysts predict that Apollo Global Management will post 7.43 earnings per share for the current fiscal year.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider James C. Zelter sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the sale, the insider now owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Whitney Chatterjee sold 12,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $111.10, for a total transaction of $1,333,200.00. Following the completion of the transaction, the insider now directly owns 123,901 shares in the company, valued at approximately $13,765,401.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James C. Zelter sold 150,000 shares of Apollo Global Management stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.16, for a total value of $16,374,000.00. Following the completion of the sale, the insider now directly owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock valued at $158,226,960 over the last three months. Company insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the subject of a number of research reports. Barclays lowered their target price on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Friday. Wells Fargo & Company upped their target price on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. BMO Capital Markets raised their price target on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Morgan Stanley upped their price objective on Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.31.

Apollo Global Management Company Profile

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.