Apollo Global Management (NYSE:APO) Reaches New 12-Month High at $124.01

Apollo Global Management, Inc. (NYSE:APO) shares hit a new 52-week high during trading on Monday . The stock traded as high as $124.01 and last traded at $123.66, with a volume of 875248 shares. The stock had previously closed at $120.51.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APO. JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Evercore ISI boosted their target price on Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods increased their price target on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, July 12th. BMO Capital Markets boosted their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Finally, TD Cowen raised their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.29.

Apollo Global Management Price Performance

The company has a market cap of $70.45 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.99 and a beta of 1.59. The stock has a 50-day simple moving average of $116.88 and a 200 day simple moving average of $110.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60.

Apollo Global Management (NYSE:APO) last posted its quarterly 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). The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $827.33 million. Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. On average, equities analysts expect that Apollo Global Management, Inc. will post 7.11 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a dividend of $0.463 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, May 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.49%. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APO. Aaron Wealth Advisors LLC grew its holdings in shares of Apollo Global Management by 21.8% during the second quarter. Aaron Wealth Advisors LLC now owns 2,516 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 450 shares during the last quarter. Fifth Third Bancorp lifted its position in Apollo Global Management by 11,714.3% during the 2nd quarter. Fifth Third Bancorp now owns 827 shares of the financial services provider’s stock worth $98,000 after buying an additional 820 shares in the last quarter. Perfromance Wealth Partners LLC bought a new stake in Apollo Global Management during the 2nd quarter worth about $236,000. M3 Advisory Group LLC acquired a new stake in Apollo Global Management in the 2nd quarter valued at about $371,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Apollo Global Management by 9.5% in the second quarter. Nisa Investment Advisors LLC now owns 54,835 shares of the financial services provider’s stock worth $6,474,000 after acquiring an additional 4,751 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.