Apollo Global Management (NYSE:APO) Trading Down 3.9% – What’s Next?

Shares of Apollo Global Management, Inc. (NYSE:APO) traded down 3.9% on Wednesday . The company traded as low as $160.89 and last traded at $161.68. 1,387,683 shares traded hands during trading, a decline of 48% from the average session volume of 2,657,546 shares. The stock had previously closed at $168.25.

Analyst Upgrades and Downgrades

Several research firms have commented on APO. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. Wolfe Research initiated coverage on Apollo Global Management in a report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price target for the company. 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. The Goldman Sachs Group increased their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday. Finally, UBS Group raised Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.05.

Apollo Global Management Stock Performance

The company has a market cap of $91.61 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 has a 50 day moving average price of $139.82 and a two-hundred day moving average price 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s dividend payout ratio is presently 19.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APO. Unigestion Holding SA bought a new stake in shares of Apollo Global Management in the 3rd quarter valued at $609,000. TCW Group Inc. grew its stake in Apollo Global Management by 2.9% during the third quarter. TCW Group Inc. now owns 671,479 shares of the financial services provider’s stock worth $83,874,000 after purchasing an additional 18,785 shares during the period. Hohimer Wealth Management LLC lifted its stake in Apollo Global Management by 3.6% in the third quarter. Hohimer Wealth Management LLC now owns 7,162 shares of the financial services provider’s stock valued at $895,000 after buying an additional 247 shares during the period. Toronto Dominion Bank grew its position in shares of Apollo Global Management by 27.7% during the 3rd quarter. Toronto Dominion Bank now owns 52,645 shares of the financial services provider’s stock worth $6,576,000 after buying an additional 11,411 shares during the period. Finally, Chiron Investment Management LLC bought a new stake in shares of Apollo Global Management in the 3rd quarter valued at $397,000. Institutional investors and hedge funds 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.