Apollo Global Management, Inc. (APO) to Issue Quarterly Dividend of $0.46 on February 28th

Apollo Global Management, Inc. (NYSE:APO) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Tuesday, February 18th will be paid a dividend of 0.4625 per share by the financial services provider on Friday, February 28th. This represents a $1.85 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, February 18th.

Apollo Global Management has decreased its dividend by an average of 4.7% per year over the last three years. Apollo Global Management has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Apollo Global Management to earn $9.34 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 19.8%.

Apollo Global Management Trading Up 3.2 %

Shares of NYSE APO opened at $162.95 on Friday. The company’s 50 day simple moving average is $167.64 and its 200 day simple moving average is $146.12. Apollo Global Management has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The firm has a market capitalization of $92.20 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.28 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on APO shares. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Piper Sandler increased their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays increased their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Morgan Stanley increased their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Finally, Evercore ISI increased their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $165.74.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,600 shares of company stock valued at $34,977,528. Corporate insiders own 8.50% of the company’s stock.

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.