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

Apollo Global Management, Inc. (NYSE:APO) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors 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. Equities 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 Trading Up 2.0 %

Shares of APO stock traded up $3.25 during mid-day trading on Wednesday, reaching $165.84. The stock had a trading volume of 2,167,401 shares, compared to its average volume of 3,386,461. The stock’s 50-day moving average price is $169.71 and its two-hundred day moving average price is $144.10. The firm has a market capitalization of $93.84 billion, a PE ratio of 17.33, a price-to-earnings-growth 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. Apollo Global Management has a 52-week low of $95.11 and a 52-week high of $189.49.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the sale, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,600 shares of company stock worth $34,186,128. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on APO shares. TD Cowen upped their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Evercore ISI lifted their price target on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their price objective on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley lifted 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, Citigroup upped their price objective on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.