Apollo Global Management (NYSE:APO) Sets New 12-Month High – What’s Next?

Apollo Global Management, Inc. (NYSE:APO)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $172.05 and last traded at $172.05, with a volume of 3116 shares trading hands. The stock had previously closed at $167.56.

Wall Street Analyst Weigh In

APO has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. BMO Capital Markets raised their target price on Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods increased 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.05.

Apollo Global Management Price Performance

The firm’s 50 day simple moving average is $144.17 and its two-hundred day simple moving average is $125.05. The firm has a market capitalization of $99.38 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.73 and a beta of 1.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 dividend yield of 1.05%. The ex-dividend date is Monday, November 18th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is 19.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Partners Group Holding AG raised its position in Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock valued at $96,896,000 after purchasing an additional 162,678 shares during the last quarter. Swiss National Bank increased its stake in shares of Apollo Global Management by 0.4% during the third quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Apollo Global Management by 34.1% during the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock valued at $2,428,000 after acquiring an additional 4,941 shares in the last quarter. PGGM Investments purchased a new stake in Apollo Global Management in the first quarter worth $840,000. Finally, Mackenzie Financial Corp boosted its holdings in Apollo Global Management by 4.5% in the second quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider’s stock valued at $21,119,000 after acquiring an additional 7,679 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.