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

Apollo Global Management, Inc. (NYSE:APO) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Monday, November 18th will be given 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 dividend 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% per year over the last three years. Apollo Global Management has a dividend payout ratio of 22.1% indicating that 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

Shares of NYSE APO traded up $14.62 during trading on Wednesday, reaching $163.89. 3,671,925 shares of the company traded hands, compared to its average volume of 2,611,798. The stock has a market cap of $93.34 billion, a P/E ratio of 17.49, a PEG ratio of 1.55 and a beta of 1.59. The firm’s fifty day simple moving average is $129.21 and its 200 day simple moving average is $119.76. 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 12-month low of $82.71 and a 12-month high of $166.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on APO shares. The Goldman Sachs Group raised their price objective on shares of Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen lifted their price objective on shares of Apollo Global Management from $135.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Barclays upped their price objective on shares of Apollo Global Management from $148.00 to $174.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company upped their price target on Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.61.

About Apollo Global Management

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.