Apollo Global Management (NYSE:APO) Reaches New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APO. Redburn Partners assumed coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price for the company. Evercore ISI upped their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their target price on shares of Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their target price on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $155.05.

Apollo Global Management Trading Up 3.7 %

The company has a market capitalization of $98.31 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 1.73 and a beta of 1.59. The business’s 50-day simple moving average is $143.02 and its 200-day simple moving average is $124.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APO. Curated Wealth Partners LLC lifted its position in Apollo Global Management by 200.3% during the 2nd 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. Massachusetts Financial Services Co. MA bought a new position in shares of Apollo Global Management during the 2nd quarter valued at about $62,972,000. Marshall Wace LLP lifted its stake in shares of Apollo Global Management by 74.5% during the 2nd quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock worth $112,836,000 after acquiring an additional 408,105 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after acquiring an additional 383,557 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in Apollo Global Management by 12,086.7% in the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after acquiring an additional 367,195 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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.