Apollo Global Management (NYSE:APO) Reaches New 12-Month High – What’s Next?

Apollo Global Management, Inc. (NYSE:APO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $146.94 and last traded at $146.05, with a volume of 29988 shares trading hands. The stock had previously closed at $146.02.

Analyst Ratings Changes

APO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Redburn Atlantic began coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. Redburn Partners assumed coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Barclays boosted their price objective on Apollo Global Management from $128.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.56.

Apollo Global Management Price Performance

The company has a market cap of $81.59 billion, a P/E ratio of 15.27, a PEG ratio of 1.39 and a beta of 1.62. The firm’s 50-day moving average is $127.35 and its two-hundred day moving average is $118.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26.

Apollo Global Management (NYSE:APO) last posted its 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 during the quarter, compared to the consensus estimate of $873.18 million. During the same quarter last year, the firm earned $1.54 earnings per share. Analysts anticipate that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Pauline Richards acquired 2,351 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, with a total value of $246,666.92. Following the purchase, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Apollo Global Management

Several hedge funds and other institutional investors have recently bought and sold shares of APO. Capital Research Global Investors increased its position in Apollo Global Management by 40.3% during the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares during the last quarter. Legal & General Group Plc grew its holdings in Apollo Global Management by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after purchasing an additional 126,859 shares during the last quarter. TD Asset Management Inc raised its position in Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock worth $318,522,000 after purchasing an additional 97,797 shares during the period. Curated Wealth Partners LLC lifted its stake in Apollo Global Management by 200.3% in the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock worth $278,945,000 after purchasing an additional 4,717,661 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Apollo Global Management by 8.4% in the first quarter. William Blair Investment Management LLC now owns 1,904,212 shares of the financial services provider’s stock worth $214,129,000 after purchasing an additional 147,710 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.