Apollo Global Management (NYSE:APO) Sets New 12-Month High on Analyst Upgrade

Shares of Apollo Global Management, Inc. (NYSE:APO) hit a new 52-week high 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 trading hands. The stock had previously closed at $164.31.

A number of other brokerages also recently commented on APO. TD Cowen upped their target price on Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley upped their target price on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. 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. Wells Fargo & Company upped their price target on Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.05.

Institutional Trading of Apollo Global Management

Several hedge funds and other institutional investors have recently bought and sold shares of APO. Geode Capital Management LLC lifted its position in Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after buying an additional 254,268 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Apollo Global Management by 40.3% in the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after buying an additional 1,360,525 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Apollo Global Management by 3.0% in the second quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after buying an additional 126,859 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Apollo Global Management by 3.8% in the second quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock valued at $318,522,000 after buying an additional 97,797 shares in the last quarter. Finally, Curated Wealth Partners LLC boosted its holdings in Apollo Global Management by 200.3% in the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after purchasing an additional 4,717,661 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

The stock has a market capitalization of $95.22 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.59. The stock has a fifty day moving average of $139.82 and a 200-day moving average of $123.50. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a $0.463 dividend. This represents a $1.85 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 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.