Apollo Global Management (NYSE:APO) Reaches New 12-Month High Following Analyst Upgrade

by · The Markets Daily

Apollo Global Management, Inc. (NYSE:APO – Get Free Report) hit a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $128.00 to $148.00. Barclays currently has an overweight rating on the stock. Apollo Global Management traded as high as $136.52 and last traded at $136.52, with a volume of 976 shares trading hands. The stock had previously closed at $135.33.

APO has been the topic of several other research reports. Redburn Atlantic began coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. Evercore ISI upped their price target on shares of Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group raised their price objective on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Wolfe Research began coverage on Apollo Global Management in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 target price for the company. Finally, StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.89.

View Our Latest Stock Report on APO

Insider Activity

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of APO. Gunderson Capital Management Inc. bought a new position in Apollo Global Management in the third quarter worth about $1,471,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Apollo Global Management during the 3rd quarter worth approximately $125,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of Apollo Global Management by 24.8% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,228 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 641 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Apollo Global Management by 39.4% during the 3rd quarter. Miracle Mile Advisors LLC now owns 12,101 shares of the financial services provider’s stock valued at $1,512,000 after purchasing an additional 3,423 shares during the period. Finally, Eagle Rock Investment Company LLC bought a new position in Apollo Global Management during the 3rd quarter worth $2,135,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $77.33 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.30 and a beta of 1.62. The company has a 50-day simple moving average of $115.34 and a two-hundred day simple moving average of $115.30.

Apollo Global Management (NYSE:APO – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period last year, the business earned $1.54 EPS. On average, equities research analysts predict that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.36%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Apollo Global Management Company Profile

(Get Free Report)

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.

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