Apollo Global Management Inc. (NYSE:APO) Declares Quarterly Dividend of $0.56

Apollo Global Management Inc. (NYSE:APO) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Wednesday, November 18th will be paid a dividend of $0.5625 per share by the financial services provider on Monday, November 30th. This represents a $2.25 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, November 18th.

Apollo Global Management has a payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Apollo Global Management to earn $9.88 per share next year, which means the company should continue to be able to cover its $2.25 annual dividend with an expected future payout ratio of 22.8%.

Apollo Global Management Stock Performance

APO traded down $5.70 on Tuesday, hitting $113.76. 6,250,679 shares of the stock traded hands, compared to its average volume of 4,229,109. The business has a fifty day moving average price of $122.04 and a two-hundred day moving average price of $123.45. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $67.18 billion, a PE ratio of 41.67, a P/E/G ratio of 1.05 and a beta of 1.51. Apollo Global Management has a 52 week low of $99.56 and a 52 week high of $153.29.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the business posted $1.92 EPS. On average, research analysts predict that Apollo Global Management will post 7.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on APO. HSBC assumed coverage on Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 price objective on the stock. Evercore lifted their price target on shares of Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. Morgan Stanley lowered their price target on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. BMO Capital Markets dropped their price objective on shares of Apollo Global Management from $134.00 to $124.00 and set a “market perform” rating for the company in a research note on Tuesday, October 27th. Finally, Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $151.40.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.