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

Apollo Global Management, Inc. (NYSE:APO) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.4625 per share by the financial services provider on Friday, February 28th. This represents a $1.85 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Tuesday, February 18th.

Apollo Global Management has decreased its dividend by an average of 4.7% annually over the last three years. Apollo Global Management has a dividend payout ratio of 18.4% indicating that 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 Price Performance

APO traded up $3.25 during midday trading on Wednesday, hitting $165.84. 2,844,746 shares of the company traded hands, compared to its average volume of 3,420,906. The business has a 50 day simple moving average of $169.71 and a two-hundred day simple moving average of $144.10. Apollo Global Management has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a market capitalization of $93.84 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.37 and a beta of 1.63. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 58,200 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the sale, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 over the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on APO shares. BMO Capital Markets raised their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Wells Fargo & Company lowered their price objective on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup raised their target price on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price target on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Barclays raised their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

Apollo Global Management Company Profile

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.