Apollo Global Management, Inc. (NYSE:APO) Raises Dividend to $0.46 Per Share

Apollo Global Management, Inc. (NYSE:APO) declared a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors of record on Monday, November 18th will be paid a dividend of 0.463 per share by the financial services provider on Friday, November 29th. This represents a $1.85 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, November 18th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46.

Apollo Global Management has decreased its dividend payment by an average of 9.9% per year over the last three years. Apollo Global Management has a payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Apollo Global Management to earn $8.05 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 Down 0.4 %

Apollo Global Management stock opened at $163.63 on Friday. The firm has a market cap of $92.59 billion, a PE ratio of 17.10, a P/E/G ratio of 1.69 and a beta of 1.59. Apollo Global Management has a 12 month low of $85.84 and a 12 month high of $168.67. The stock’s 50 day simple moving average is $137.45 and its two-hundred day simple moving average is $122.61. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Analyst Upgrades and Downgrades

APO has been the topic of a number of recent analyst reports. TD Cowen increased their price target on shares of Apollo Global Management from $165.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods increased their target price on shares of Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price target on Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Redburn Atlantic started coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.83.

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.