Apollo Investment Corp. (NASDAQ:AINV) declared a quarterly dividend on Wednesday, February 6th, Zacks reports. Stockholders of record on Thursday, March 21st will be paid a dividend of 0.45 per share by the asset manager on Friday, April 5th. This represents a $1.80 annualized dividend and a dividend yield of 11.46%. The ex-dividend date is Wednesday, March 20th. This is a positive change from Apollo Investment’s previous quarterly dividend of $0.15.
Apollo Investment has decreased its dividend payment by an average of 9.1% annually over the last three years. Apollo Investment has a dividend payout ratio of 295.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Apollo Investment to earn $1.87 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 96.3%.
Shares of AINV stock opened at $15.70 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.76. Apollo Investment has a one year low of $12.05 and a one year high of $18.00. The stock has a market cap of $1.08 billion, a PE ratio of 8.58, a P/E/G ratio of 1.74 and a beta of 1.23.
Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings results on Wednesday, February 6th. The asset manager reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). Apollo Investment had a return on equity of 9.25% and a net margin of 23.80%. The company had revenue of $64.00 million for the quarter, compared to the consensus estimate of $64.31 million. During the same period in the previous year, the business posted $0.16 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Apollo Investment will post 1.79 EPS for the current year.
A hedge fund recently bought a new stake in Apollo Investment stock. Geode Capital Management LLC acquired a new stake in shares of Apollo Investment Corp. (NASDAQ:AINV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,866 shares of the asset manager’s stock, valued at approximately $146,000. Hedge funds and other institutional investors own 45.03% of the company’s stock.
Apollo Investment declared that its Board of Directors has initiated a share buyback program on Wednesday, February 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts have issued reports on the stock. BidaskClub cut shares of Apollo Investment from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. National Securities reissued a “neutral” rating and issued a $18.00 target price on shares of Apollo Investment in a report on Friday, February 8th. ValuEngine raised shares of Apollo Investment from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Citigroup upgraded shares of Apollo Investment from a “sell” rating to a “neutral” rating and dropped their price target for the company from $15.00 to $14.00 in a research note on Tuesday, January 22nd. Finally, Barclays set a $16.00 price target on shares of Apollo Investment and gave the company a “hold” rating in a research note on Friday, December 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.50.
Apollo Investment Company Profile
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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