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

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 dividend yield of 1.13%. The ex-dividend date is Monday, November 18th. This is an increase 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 payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 9.8 %

NYSE:APO traded up $14.62 on Wednesday, hitting $163.89. The stock had a trading volume of 3,671,925 shares, compared to its average volume of 2,611,798. The company has a fifty day moving average price of $129.21 and a two-hundred day moving average price of $119.76. Apollo Global Management has a 1-year low of $82.71 and a 1-year high of $166.72. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock has a market cap of $93.34 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.55 and a beta of 1.59.

Analyst Ratings Changes

Several brokerages recently issued reports on APO. Redburn Partners began coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Evercore ISI lifted their target price on shares of Apollo Global Management from $127.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.