Apollo Global Management, LLC (APO) to Issue Quarterly Dividend of $0.39 on November 30th
Apollo Global Management, LLC (NYSE:APO) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Tuesday, November 21st will be paid a dividend of 0.39 per share by the financial services provider on Thursday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date is Monday, November 20th.
Apollo Global Management has raised its dividend payment by an average of 64.7% per year over the last three years. Apollo Global Management has a dividend payout ratio of 52.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Apollo Global Management to earn $2.94 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 53.1%.
Shares of Apollo Global Management (NYSE:APO) opened at $29.28 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58. Apollo Global Management has a 12-month low of $18.90 and a 12-month high of $33.37. The firm has a market cap of $5,666.85, a price-to-earnings ratio of 8.79, a P/E/G ratio of 0.98 and a beta of 1.23.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.51. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The firm had revenue of $645.20 million during the quarter, compared to analysts’ expectations of $467.72 million. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was up 31.1% on a year-over-year basis. analysts anticipate that Apollo Global Management will post 2.98 earnings per share for the current year.
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In related news, major shareholder Tiger Global Management Llc bought 43,714 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average price of $29.18 per share, for a total transaction of $1,275,574.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director A B. Krongard bought 1,000 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was bought at an average price of $29.28 per share, for a total transaction of $29,280.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 298,386 shares of company stock worth $8,529,433. Company insiders own 4.11% of the company’s stock.
APO has been the subject of a number of research reports. Zacks Investment Research cut shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $35.00 price target on shares of Apollo Global Management in a research report on Thursday, October 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of Apollo Global Management in a research report on Tuesday, September 26th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $39.00 price target (up from $34.00) on shares of Apollo Global Management in a research report on Thursday, November 2nd. Finally, Morgan Stanley upped their price target on shares of Apollo Global Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Apollo Global Management presently has a consensus rating of “Buy” and a consensus target price of $33.38.
Apollo Global Management Company Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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