Apollo Global Management, Inc. (APO) To Go Ex-Dividend on May 16th

Apollo Global Management, Inc. (NYSE:APO) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.463 per share by the financial services provider on Friday, May 31st. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43.

Apollo Global Management has decreased its dividend payment by an average of 9.9% annually over the last three years and has increased its dividend every year for the last 1 years. Apollo Global Management has a payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Apollo Global Management to earn $8.72 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.7%.

Apollo Global Management Stock Performance

Shares of APO opened at $109.47 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $111.11 and a 200-day simple moving average of $99.97. Apollo Global Management has a 52-week low of $57.50 and a 52-week high of $117.15. The company has a market capitalization of $62.20 billion, a PE ratio of 13.02, a P/E/G ratio of 0.90 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. The business had revenue of $795.00 million for the quarter, compared to analyst estimates of $823.27 million. Equities research analysts predict that Apollo Global Management will post 7.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APO. Wells Fargo & Company raised their price target on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods upped their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. raised their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Citigroup upped their target price on Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, BMO Capital Markets raised their price target on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.31.

Insiders Place Their Bets

In other news, insider James C. Zelter sold 150,000 shares of Apollo Global Management stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the transaction, the insider now directly owns 1,454,588 shares of the company’s stock, valued at approximately $158,782,826.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apollo Global Management news, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $109.09, for a total value of $1,527,260.00. Following the transaction, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at $39,989,339.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Zelter sold 150,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the transaction, the insider now owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock worth $158,226,960 over the last three months. 8.70% of the stock is owned by insiders.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.