Apollo Global Management, Inc. Declares 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. Shareholders 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 dividend yield of 1.12%. The ex-dividend date is Tuesday, February 18th.

Apollo Global Management has decreased its dividend payment 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. 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

Shares of Apollo Global Management stock traded up $3.25 during trading on Wednesday, hitting $165.84. 2,844,746 shares of the company were exchanged, compared to its average volume of 3,420,906. The firm has a 50 day moving average price of $169.71 and a 200 day moving average price of $144.10. The stock has a market capitalization of $93.84 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.37 and a beta of 1.63. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. The trade was a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APO. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Wells Fargo & Company decreased their price target on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group raised shares of Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. TD Cowen raised their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Evercore ISI boosted their price target on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $164.00.

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.