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

Apollo Global Management, Inc. (NYSE:APO) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors 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 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% annually 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. 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 APO traded down $2.60 during mid-day trading on Friday, reaching $109.47. 3,300,741 shares of the company’s stock were exchanged, compared to its average volume of 2,358,690. Apollo Global Management has a 52-week low of $57.50 and a 52-week high of $117.15. The company has a market cap of $62.20 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.90 and a beta of 1.61. The company has a 50-day simple moving average of $111.15 and a two-hundred day simple moving average of $99.81. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last issued 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 net margin of 15.86% and a return on equity of 20.33%. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $823.27 million. On average, sell-side analysts predict that Apollo Global Management will post 7.43 EPS for the current fiscal year.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 300,000 shares of Apollo Global Management stock in a transaction on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the sale, the insider now owns 43,054,773 shares of the company’s stock, valued at approximately $4,801,037,737.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Leon D. Black sold 450,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the sale, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon D. Black sold 300,000 shares of the firm’s stock in a transaction on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the transaction, the insider now directly owns 43,054,773 shares of the company’s stock, valued at $4,801,037,737.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,426,000 shares of company stock valued at $158,226,960. Corporate insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on APO shares. JPMorgan Chase & Co. increased their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods lifted their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Evercore ISI lifted their target price on Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company upped their price target on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management 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.