Apollo Global Management (NYSE:APO) Hits New 1-Year High on Analyst Upgrade

Shares of Apollo Global Management, Inc. (NYSE:APO) hit a new 52-week high on Friday after BMO Capital Markets raised their price target on the stock from $96.00 to $103.00. BMO Capital Markets currently has an outperform rating on the stock. Apollo Global Management traded as high as $92.40 and last traded at $91.89, with a volume of 395388 shares changing hands. The stock had previously closed at $91.17.

APO has been the topic of several other research reports. TheStreet raised Apollo Global Management from a “c+” rating to a “b-” rating in a report on Tuesday, June 20th. StockNews.com started coverage on Apollo Global Management in a report on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley raised their price objective on Apollo Global Management from $81.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. Citigroup raised their price objective on Apollo Global Management from $91.00 to $100.00 in a report on Friday, August 4th. Finally, Wells Fargo & Company raised their price objective on Apollo Global Management from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

Insiders Place Their Bets

In other news, insider James C. Zelter sold 3,010 shares of Apollo Global Management stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $77.51, for a total value of $233,305.10. Following the completion of the transaction, the insider now directly owns 5,776,159 shares of the company’s stock, valued at approximately $447,710,084.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider James C. Zelter sold 3,010 shares of Apollo Global Management stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $77.51, for a total value of $233,305.10. Following the completion of the transaction, the insider now directly owns 5,776,159 shares of the company’s stock, valued at approximately $447,710,084.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James C. Zelter sold 11,093 shares of Apollo Global Management stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $77.53, for a total value of $860,040.29. Following the completion of the transaction, the insider now directly owns 5,779,169 shares of the company’s stock, valued at $448,058,972.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,659 shares of company stock valued at $8,696,359. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Apollo Global Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Dedication LLC increased its position in Apollo Global Management by 100.0% in the 2nd quarter. Asset Dedication LLC now owns 768 shares of the financial services provider’s stock valued at $58,000 after buying an additional 384 shares in the last quarter. Osaic Holdings Inc. increased its position in Apollo Global Management by 8.2% in the 2nd quarter. Osaic Holdings Inc. now owns 138,559 shares of the financial services provider’s stock valued at $10,636,000 after buying an additional 10,451 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in Apollo Global Management in the 2nd quarter valued at about $201,000. GTS Securities LLC bought a new stake in Apollo Global Management in the 2nd quarter valued at about $4,252,000. Finally, National Pension Service bought a new stake in Apollo Global Management in the 2nd quarter valued at about $41,270,000. 60.86% of the stock is owned by institutional investors.

Apollo Global Management Price Performance

The firm has a market capitalization of $51.99 billion, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 0.65 and a beta of 1.67. The business has a 50-day moving average of $83.38 and a 200 day moving average of $72.33. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.85.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.06). The firm had revenue of $793.00 million during the quarter, compared to the consensus estimate of $781.82 million. Apollo Global Management had a net margin of 4.91% and a return on equity of 109.78%. On average, sell-side analysts predict that Apollo Global Management, Inc. will post 6.3 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 18th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, August 17th. Apollo Global Management’s dividend payout ratio is currently 81.52%.

Apollo Global Management Company Profile

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.