Apollo Global Management (NYSE:APO) Hits New 52-Week High – Here’s What Happened

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

Analysts Set New Price Targets

Several research firms recently commented on APO. Keefe, Bruyette & Woods upped their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. increased their target price on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft decreased 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 report on Thursday, August 15th. Morgan Stanley upped their price target on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $139.56.

Apollo Global Management Trading Up 0.3 %

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 stock’s fifty day moving average price is $125.93 and its two-hundred day moving average price is $118.48. The company has a market capitalization of $83.20 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62.

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). The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same quarter in the prior year, the company posted $1.54 earnings per share. Sell-side analysts anticipate 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. Stockholders of record on Friday, August 16th were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.26%. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Insider Transactions at Apollo Global Management

In related news, Director Pauline Richards acquired 2,351 shares of the stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apollo Global Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. bought a new stake in shares of Apollo Global Management during the second quarter valued at approximately $35,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Apollo Global Management during the third quarter valued at approximately $35,000. J.Safra Asset Management Corp increased its position in shares of Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 305 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 346 shares in the last quarter. Finally, Orion Capital Management LLC grew its position in Apollo Global Management by 20.0% in the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 100 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Company Profile

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.