Apollo Global Management Inc. (APO) to Distribute Quarterly Dividend of $0.56 on August 31st

Apollo Global Management Inc. (NYSE:APO) declared a quarterly dividend on Tuesday, August 4th. Investors of record on Wednesday, August 19th will be paid a dividend of 0.5625 per share by the financial services provider on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, August 19th.

Apollo Global Management has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 3 years. Apollo Global Management has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Apollo Global Management to earn $10.01 per share next year, which means the company should continue to be able to cover its $2.25 annual dividend with an expected future payout ratio of 22.5%.

Apollo Global Management Price Performance

Shares of APO stock opened at $129.63 on Thursday. The business’s fifty day moving average is $125.41 and its 200 day moving average is $122.85. Apollo Global Management has a twelve month low of $99.56 and a twelve month high of $153.29. The stock has a market cap of $74.73 billion, a price-to-earnings ratio of 47.48, a PEG ratio of 1.16 and a beta of 1.51. The company has a quick ratio of 1.73, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the firm posted $1.92 EPS. Research analysts expect that Apollo Global Management will post 8.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on APO. Royal Bank Of Canada lifted their price objective on shares of Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Keefe, Bruyette & Woods upgraded Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. Piper Sandler decreased their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Morgan Stanley lowered their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Finally, TD Cowen reduced their target price on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.77.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.