Apollo Global Management (NYSE:APO) Hits New 1-Year High Following Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO) shares hit a new 52-week high on Tuesday after The Goldman Sachs Group raised their price target on the stock from $161.00 to $178.00. The Goldman Sachs Group currently has a buy rating on the stock. Apollo Global Management traded as high as $168.74 and last traded at $168.10, with a volume of 1203651 shares trading hands. The stock had previously closed at $164.31.

Several other brokerages have also recently issued reports on APO. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Citigroup upped their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Wolfe Research assumed coverage on shares of Apollo Global Management in a research report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 target price for the company. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley upped their price target on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $155.05.

Institutional Trading of Apollo Global Management

Institutional investors have recently modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new stake in shares of Apollo Global Management in the 3rd quarter valued at about $35,000. Cullen Frost Bankers Inc. purchased a new position in shares of Apollo Global Management in the 2nd quarter valued at approximately $35,000. Massmutual Trust Co. FSB ADV raised its position in shares of Apollo Global Management by 293.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 346 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Apollo Global Management in the 3rd quarter valued at approximately $80,000. Finally, Truvestments Capital LLC purchased a new position in Apollo Global Management during the 3rd quarter worth approximately $83,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Down 3.2 %

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $92.16 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.69 and a beta of 1.59. The business’s 50-day simple moving average is $140.91 and its 200-day simple moving average is $123.77.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.14%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. Apollo Global Management’s payout ratio is 19.33%.

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.