Apollo Global Management (NYSE:APO) Reaches New 52-Week High on Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO) hit a new 52-week high on Monday after Barclays raised their price target on the stock from $128.00 to $148.00. Barclays currently has an overweight rating on the stock. Apollo Global Management traded as high as $136.52 and last traded at $136.52, with a volume of 976 shares trading hands. The stock had previously closed at $135.33.

A number of other analysts have also weighed in on APO. Deutsche Bank Aktiengesellschaft reduced 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. Wells Fargo & Company lifted their price target on Apollo Global Management from $132.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. 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 report on Friday, July 12th. TD Cowen lifted their target price on Apollo Global Management from $135.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, BMO Capital Markets upped their price target on shares of Apollo Global Management from $123.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $135.89.

Insiders Place Their Bets

In other Apollo Global Management 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 price of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. purchased a new position in Apollo Global Management in the second quarter valued at about $35,000. J.Safra Asset Management Corp lifted its holdings in shares of Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after buying an additional 305 shares during the last quarter. True Wealth Design LLC acquired a new position in Apollo Global Management in the fourth quarter worth approximately $33,000. Riverview Trust Co bought a new position in Apollo Global Management during the first quarter valued at approximately $45,000. Finally, Compass Wealth Management LLC lifted its stake in Apollo Global Management by 48.7% in the first quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 146 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

The company’s 50-day simple moving average is $115.34 and its 200 day simple moving average is $115.30. The company has a market capitalization of $77.33 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.30 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.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) 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 in the prior year, the company posted $1.54 earnings per share. As a group, sell-side analysts expect that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

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.