Apollo Global Management (NYSE:APO) Sets New 52-Week High – Here’s Why

Apollo Global Management, Inc. (NYSE:APO)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $141.31 and last traded at $141.31, with a volume of 4396 shares traded. The stock had previously closed at $140.21.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on APO shares. Barclays increased their target price on shares of Apollo Global Management from $128.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. UBS Group boosted their price target on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Redburn Atlantic began coverage on Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. Finally, Wolfe Research began coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $138.06.

Apollo Global Management Stock Up 0.8 %

The company has a market cap of $80.29 billion, a P/E ratio of 15.53, a PEG ratio of 1.39 and a beta of 1.62. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $116.77 and a 200 day moving average price of $115.83.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same period last year, the firm earned $1.54 earnings per share. Equities research analysts forecast that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity

In other news, Director Pauline Richards bought 2,351 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now owns 85,854 shares in the company, valued at $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apollo Global Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC increased its holdings in Apollo Global Management by 112.3% in the first quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after purchasing an additional 552,893 shares during the period. Empowered Funds LLC raised its stake in Apollo Global Management by 193.3% during the first quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock worth $5,755,000 after buying an additional 33,731 shares during the last quarter. Diversified Trust Co bought a new position in shares of Apollo Global Management during the 1st quarter worth approximately $1,731,000. Jennison Associates LLC increased its stake in Apollo Global Management by 199.8% in the first quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock valued at $104,041,000 after purchasing an additional 616,575 shares in the last quarter. Finally, PGGM Investments bought a new position in Apollo Global Management during the 1st quarter valued at $840,000. 77.06% of the stock is currently owned by institutional investors.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.