Apollo Global Management Sees Large Volume Increase After Dividend Announcement (APO)
Shares of Apollo Global Management (NYSE:APO) saw strong trading volume on Thursday after the company announced a dividend, Analyst Ratings Network.com reports. 3,826,835 shares traded hands during trading, an increase of 275% from the previous session’s volume of 1,021,660 shares.The stock last traded at $24.73 and had previously closed at $25.25.
The newly announced dividend is scheduled for Friday, August 29th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 20th.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of Apollo Global Management in a research note on Thursday. Separately, analysts at BB&T Corp. initiated coverage on shares of Apollo Global Management in a research note on Monday, July 21st. They set a “buy” rating on the stock. Finally, analysts at RBC Capital upgraded shares of Apollo Global Management from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Apollo Global Management has a consensus rating of “Hold” and an average price target of $35.00.
The stock has a 50-day moving average of $26.92 and a 200-day moving average of $28.81. The company has a market cap of $3.687 billion and a price-to-earnings ratio of 9.07.
Apollo Global Management (NYSE:APO) last released its earnings data on Wednesday, August 6th. The company reported $0.52 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.13. The company had revenue of $572.15 million for the quarter, compared to the consensus estimate of $624.75 million. During the same quarter last year, the company posted $0.50 earnings per share. Analysts expect that Apollo Global Management will post $2.62 EPS for the current fiscal year.
Apollo Global Management, LLC (NYSE:APO) is a global alternative asset manager.
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