Apollo Global Management LLC (NYSE:APO) declared a quarterly dividend on Thursday, November 1st, Wall Street Journal reports. Shareholders of record on Tuesday, November 20th will be given a dividend of 0.46 per share by the financial services provider on Friday, November 30th. This represents a $1.84 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend is Monday, November 19th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43.
Apollo Global Management has raised its dividend payment by an average of 16.2% annually over the last three years. Apollo Global Management has a dividend payout ratio of 119.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Apollo Global Management to earn $3.14 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 54.8%.
APO stock opened at $30.59 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 1.94 and a beta of 1.18. Apollo Global Management has a twelve month low of $28.00 and a twelve month high of $37.35.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.03). The business had revenue of $497.16 million for the quarter, compared to the consensus estimate of $596.75 million. Apollo Global Management had a net margin of 19.59% and a return on equity of 48.19%. The business’s revenue was down 28.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. Sell-side analysts expect that Apollo Global Management will post 1.54 EPS for the current fiscal year.
APO has been the subject of a number of research analyst reports. Oppenheimer lifted their price target on Apollo Global Management from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, July 18th. Morgan Stanley set a $42.00 price target on Apollo Global Management and gave the company a “buy” rating in a research report on Tuesday, August 14th. Zacks Investment Research downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Credit Suisse Group lifted their price target on Apollo Global Management from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, September 21st. Finally, Citigroup dropped their price target on Apollo Global Management from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.00.
In related news, insider Joshua Harris sold 30,381 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $35.28, for a total value of $1,071,841.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tiger Global Management Llc bought 815,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was purchased at an average price of $29.26 per share, with a total value of $23,846,900.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 918,293 shares of company stock valued at $26,794,671. Corporate insiders own 4.11% of the company’s stock.
Apollo Global Management Company Profile
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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