Apollo Global Management (NYSE:APO) Reaches New 1-Year High – Here’s What Happened

Apollo Global Management, Inc. (NYSE:APO) shares hit a new 52-week high on Monday . The stock traded as high as $141.31 and last traded at $141.31, with a volume of 4396 shares trading hands. The stock had previously closed at $140.21.

Analysts Set New Price Targets

APO has been the subject of several recent research reports. Redburn Partners assumed coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. Argus lowered their target price on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. The Goldman Sachs Group raised their target price on Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wolfe Research assumed coverage on Apollo Global Management in a research note on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target for the company. Finally, UBS Group raised their price objective on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.06.

Apollo Global Management Trading Up 0.1 %

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 market capitalization of $80.44 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.39 and a beta of 1.62. The business has a 50-day moving average of $118.37 and a two-hundred day moving average of $116.24.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). The firm had revenue of $6.02 billion for 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 previous year, the business posted $1.54 EPS. Research analysts predict that Apollo Global Management, Inc. will post 6.66 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Apollo Global Management

Institutional investors have recently bought and sold shares of the stock. Curated Wealth Partners LLC lifted its holdings in shares of Apollo Global Management by 200.3% during the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after acquiring an additional 4,717,661 shares during the period. Capital Research Global Investors lifted its holdings in Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after purchasing an additional 1,360,525 shares during the last quarter. Jennison Associates LLC lifted its holdings in Apollo Global Management by 199.8% during the 1st quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock valued at $104,041,000 after purchasing an additional 616,575 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Apollo Global Management in the second quarter valued at about $62,972,000. Finally, 1832 Asset Management L.P. grew its stake in Apollo Global Management by 66.0% during the first quarter. 1832 Asset Management L.P. now owns 1,257,460 shares of the financial services provider’s stock worth $141,401,000 after buying an additional 499,930 shares during the last quarter. Institutional investors and hedge funds 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.