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

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 traded. The stock had previously closed at $164.31.

A number of other equities research analysts have also recently weighed in on the company. Citigroup upped their price target on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Redburn Partners initiated coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective for the company. Morgan Stanley upped their price objective on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $155.05.

Institutional Investors Weigh In On Apollo Global Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Capital LLC boosted its holdings in shares of Apollo Global Management by 1.2% during the 3rd quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock worth $709,000 after buying an additional 69 shares during the period. Menard Financial Group LLC increased its position in Apollo Global Management by 1.2% during the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 71 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Apollo Global Management by 3.0% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 77 shares during the last quarter. Cigna Investments Inc. New boosted its stake in shares of Apollo Global Management by 1.8% in the 3rd quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 90 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Apollo Global Management by 14.3% in the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 91 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

The company has a market capitalization of $95.22 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.59. The stock’s 50 day moving average price is $139.82 and its 200 day moving average price is $123.50. 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 company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.463 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.10%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is currently 19.33%.

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.