Apollo Global Management (NYSE:APO) Reaches New 52-Week High at $126.93

Apollo Global Management, Inc. (NYSE:APO)’s stock price hit a new 52-week high on Monday . The stock traded as high as $126.93 and last traded at $126.71, with a volume of 853343 shares. The stock had previously closed at $124.48.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore ISI lifted their price target on Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Argus dropped their price objective on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Wells Fargo & Company began coverage on shares of Apollo Global Management in a research note on Thursday, September 12th. They set an “overweight” rating and a $132.00 target price for the company. Finally, Redburn Partners assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Apollo Global Management Stock Performance

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 50-day moving average of $113.64 and a 200 day moving average of $113.73. The stock has a market capitalization of $71.38 billion, a P/E ratio of 13.79, a PEG ratio of 1.13 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $1.54 EPS. Research analysts anticipate that Apollo Global Management, Inc. will post 6.62 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s payout ratio is currently 20.49%.

Insider Activity at Apollo Global Management

In related news, Director Pauline Richards bought 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by insiders.

Institutional Trading of Apollo Global Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DSM Capital Partners LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $31,000. True Wealth Design LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth $33,000. Cullen Frost Bankers Inc. acquired a new position in shares of Apollo Global Management in the second quarter valued at about $35,000. Carolinas Wealth Consulting LLC bought a new position in Apollo Global Management during the fourth quarter worth about $38,000. Finally, J.Safra Asset Management Corp raised its stake in Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares in the last quarter. 77.06% of the stock is 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.