Apollo Global Management LLC (APO) to Issue Quarterly Dividend of $0.66 on February 28th

Apollo Global Management LLC (NYSE:APO) announced a quarterly dividend on Thursday, February 1st, Zacks reports. Stockholders of record on Wednesday, February 21st will be given a dividend of 0.66 per share by the financial services provider on Wednesday, February 28th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 7.70%. The ex-dividend date is Tuesday, February 20th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.39.

Apollo Global Management has raised its dividend by an average of 16.2% per year over the last three years. Apollo Global Management has a payout ratio of 52.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Apollo Global Management to earn $3.31 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 47.1%.

Shares of Apollo Global Management (NYSE APO) opened at $34.28 on Thursday. The company has a market capitalization of $6,497.14, a price-to-earnings ratio of 9.40, a PEG ratio of 0.97 and a beta of 1.03. Apollo Global Management has a 52 week low of $21.39 and a 52 week high of $37.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 2.26.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, February 1st. The financial services provider reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.55. The company had revenue of $869.50 million for the quarter, compared to analysts’ expectations of $599.38 million. Apollo Global Management had a return on equity of 62.94% and a net margin of 23.92%. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. research analysts predict that Apollo Global Management will post 3.1 earnings per share for the current fiscal year.

APO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Apollo Global Management from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Tuesday, December 19th. Citigroup lifted their target price on Apollo Global Management from $35.50 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Jefferies Group boosted their price objective on Apollo Global Management from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Wells Fargo & Co restated an “outperform” rating and issued a $39.00 price objective (up from $34.00) on shares of Apollo Global Management in a research note on Thursday, November 2nd. Finally, Morgan Stanley upgraded Apollo Global Management from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Apollo Global Management presently has a consensus rating of “Buy” and a consensus price target of $36.33.

In other news, Director Pauline Richards acquired 1,280 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were acquired at an average cost of $33.66 per share, for a total transaction of $43,084.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $32.68, for a total value of $163,400.00. The disclosure for this sale can be found here. Insiders sold a total of 4,520,000 shares of company stock worth $153,677,150 over the last 90 days. 4.11% of the stock is currently owned by company insiders.

WARNING: “Apollo Global Management LLC (APO) to Issue Quarterly Dividend of $0.66 on February 28th” was originally published by Week Herald and is the property of of Week Herald. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://weekherald.com/2018/02/15/apollo-global-management-llc-apo-to-issue-quarterly-dividend-of-0-66-on-february-28th.html.

About Apollo Global Management

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.

Dividend History for Apollo Global Management (NYSE:APO)

Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply