Apollo Global Management (NYSE:APO) Hits New 12-Month High at $120.18

Shares of Apollo Global Management, Inc. (NYSE:APO) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $120.18 and last traded at $120.08, with a volume of 1639858 shares. The stock had previously closed at $118.74.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on APO shares. Evercore ISI raised their price target on shares of Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. lifted their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group reduced their price target on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.62.

Apollo Global Management Trading Down 0.2 %

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $114.77 and its two-hundred day moving average price is $108.53. The company has a market capitalization of $68.07 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.99 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. The firm had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $827.33 million. Sell-side analysts anticipate that Apollo Global Management, Inc. will post 7.14 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, May 16th. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of the transaction, the chief financial officer now owns 359,445 shares of the company’s stock, valued at $40,002,634.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

A number of institutional investors and hedge funds have recently made changes to their positions in APO. CWA Asset Management Group LLC increased its position in shares of Apollo Global Management by 2.8% during the fourth quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 94 shares in the last quarter. Zhang Financial LLC increased its position in shares of Apollo Global Management by 0.6% during the first quarter. Zhang Financial LLC now owns 17,724 shares of the financial services provider’s stock valued at $1,993,000 after acquiring an additional 97 shares in the last quarter. Orion Capital Management LLC increased its position in shares of Apollo Global Management by 20.0% during the first quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 100 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Apollo Global Management by 8.5% in the first quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 102 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its holdings in Apollo Global Management by 0.9% in the first quarter. Valley National Advisers Inc. now owns 11,519 shares of the financial services provider’s stock worth $1,295,000 after purchasing an additional 104 shares during the last quarter. Institutional investors 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 and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.