Apollo Global Management (NYSE:APO) Reaches New 1-Year High After Analyst Upgrade

Shares of Apollo Global Management, Inc. (NYSE:APO) reached a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $161.00 to $178.00. The Goldman Sachs Group currently has a buy rating on the stock. Apollo Global Management traded as high as $168.74 and last traded at $168.10, with a volume of 1203651 shares. The stock had previously closed at $164.31.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley increased their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Evercore ISI increased their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays increased their target price on shares of Apollo Global Management from $148.00 to $174.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Redburn Partners began coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.05.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in Apollo Global Management during the second quarter valued at approximately $35,000. Compagnie Lombard Odier SCmA acquired a new position in Apollo Global Management during the third quarter valued at approximately $35,000. Massmutual Trust Co. FSB ADV lifted its stake in Apollo Global Management by 293.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after buying an additional 346 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Apollo Global Management in the third quarter valued at approximately $80,000. Finally, Mather Group LLC. lifted its stake in Apollo Global Management by 826.9% in the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after buying an additional 645 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s 50 day simple moving average is $138.59 and its two-hundred day simple moving average is $123.09. The stock has a market cap of $95.11 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.59.

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 $0.463 dividend. 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 1.10%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is presently 19.33%.

Apollo Global Management Company Profile

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.