Apollo Global Management (NYSE:APO) Sets New 52-Week High at $130.67

Apollo Global Management, Inc. (NYSE:APO)’s share price hit a new 52-week high on Tuesday . The company traded as high as $130.67 and last traded at $129.75, with a volume of 800403 shares. The stock had previously closed at $124.91.

Wall Street Analyst Weigh In

Several analysts recently issued reports on APO shares. Argus cut their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Barclays dropped their price target on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. UBS Group boosted their target price on Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their price target for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.65.

Apollo Global Management Stock Performance

The firm’s 50-day simple moving average is $114.01 and its two-hundred day simple moving average is $114.38. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $73.16 billion, a PE ratio of 13.83, a PEG ratio of 1.30 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter in the prior year, the firm posted $1.54 EPS. On average, equities research analysts expect that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Insider Buying and Selling

In related news, Director Pauline Richards purchased 2,351 shares of the stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apollo Global Management

Several large investors have recently made changes to their positions in APO. Centaurus Financial Inc. increased its position in Apollo Global Management by 122.2% during the second quarter. Centaurus Financial Inc. now owns 3,571 shares of the financial services provider’s stock worth $422,000 after buying an additional 1,964 shares during the last quarter. American Trust boosted its holdings in Apollo Global Management by 35.6% during the second quarter. American Trust now owns 2,895 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 760 shares during the period. Sanctuary Advisors LLC bought a new stake in Apollo Global Management during the 2nd quarter valued at approximately $11,107,000. New Century Financial Group LLC acquired a new position in shares of Apollo Global Management during the second quarter worth approximately $347,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Apollo Global Management by 15.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 238,800 shares of the financial services provider’s stock worth $28,195,000 after buying an additional 32,000 shares during 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.