Apollo Global Management Inc. (APO) to Distribute Quarterly Dividend of $0.56 on November 30th

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 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, November 18th.

Apollo Global Management has a payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 8.3%

NYSE APO opened at $122.96 on Thursday. The firm’s 50 day moving average price is $121.46 and its two-hundred day moving average price is $123.19. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.41. Apollo Global Management has a twelve month low of $99.56 and a twelve month high of $153.29. The stock has a market cap of $72.61 billion, a price-to-earnings ratio of -67.19, a PEG ratio of 1.05 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a negative net margin of 2.98% and a positive return on equity of 12.11%. During the same period last year, the business earned $1.92 EPS. Equities analysts anticipate that Apollo Global Management will post 7.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on APO shares. Jefferies Financial Group dropped their price target on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a research report on Tuesday, October 6th. BMO Capital Markets reduced their target price on shares of Apollo Global Management from $134.00 to $124.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 27th. UBS Group cut their price target on shares of Apollo Global Management from $172.00 to $163.00 and set a “buy” rating for the company in a report on Tuesday, October 13th. Evercore raised their price objective on shares of Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price on shares of Apollo Global Management in a research note on Wednesday. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $147.30.

About Apollo Global Management

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.