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

Apollo Global Management, Inc. (NYSE:APO) announced 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 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

APO stock opened at $163.63 on Friday. Apollo Global Management has a one year low of $85.84 and a one year high of $168.67. The firm has a market cap of $92.59 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.69 and a beta of 1.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a 50-day simple moving average of $137.45 and a two-hundred day simple moving average of $122.61.

Analysts Set New Price Targets

APO has been the subject of a number of analyst reports. Barclays increased their target price on shares of Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Citigroup raised their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Redburn Atlantic assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Finally, Wells Fargo & Company upped their price objective on shares of Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $150.83.

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.