Apollo Global Management Inc. (NYSE:APO) Declares $0.56 Quarterly Dividend

Key Points

• Apollo Global Management declared a quarterly dividend of $0.5625 per share, payable August 31 to shareholders of record as of August 19. The dividend implies an annualized payout of $2.25 and a 1.7% yield.
• The dividend appears well covered, with a current payout ratio of 24% and an expected forward payout ratio of 22.5%, based on projected earnings of $10.01 per share.
• Apollo reported quarterly EPS of $2.11, missing analysts’ $2.16 estimate, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $149.08.

Apollo Global Management Inc. (NYSE:APO - Get Free Report) announced a quarterly dividend on Tuesday, August 4th. Stockholders 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 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

NYSE APO traded up $3.61 on Tuesday, reaching $133.03. The company's stock had a trading volume of 5,307,565 shares, compared to its average volume of 4,633,710. Apollo Global Management has a 52 week low of $99.56 and a 52 week high of $153.29. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm has a market cap of $76.70 billion, a PE ratio of 84.73, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50. The business has a 50-day moving average price of $125.36 and a 200 day moving average price of $123.03.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data 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 3.62% and a return on equity of 14.43%. During the same period last year, the company earned $1.92 EPS. Sell-side analysts expect that Apollo Global Management will post 8.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Morgan Stanley dropped 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 research report on Tuesday, July 21st. Evercore restated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Finally, HSBC began coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a "buy" rating and a $145.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.08.

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.

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