Apollo Global Management (NYSE:APO) Sets New 52-Week High – Here’s What Happened

Apollo Global Management, Inc. (NYSE:APO)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $172.05 and last traded at $172.05, with a volume of 3116 shares trading hands. The stock had previously closed at $167.56.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APO. Wolfe Research assumed coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 target price for the company. Redburn Atlantic started coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective for the company. Citigroup raised their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Cowen upped their target price on Apollo Global Management from $165.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $155.05.

Apollo Global Management Price Performance

The company has a market cap of $98.31 billion, a P/E ratio of 17.51, a PEG ratio of 1.73 and a beta of 1.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day moving average price of $143.02 and a two-hundred day moving average price of $124.61.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.463 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.07%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 19.33%.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds have recently bought and sold shares of the company. PGGM Investments acquired a new position in shares of Apollo Global Management during the 1st quarter worth approximately $840,000. Swiss National Bank lifted its holdings in Apollo Global Management by 0.4% during the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock worth $147,670,000 after buying an additional 4,600 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Apollo Global Management by 34.1% during the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after acquiring an additional 4,941 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Apollo Global Management by 4.5% in the 2nd quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider’s stock worth $21,119,000 after acquiring an additional 7,679 shares during the period. Finally, Atria Investments Inc raised its position in Apollo Global Management by 112.3% in the third quarter. Atria Investments Inc now owns 19,498 shares of the financial services provider’s stock worth $2,435,000 after acquiring an additional 10,315 shares in 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, 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.