Apollo Global Management (NYSE:APO) Hits New 52-Week High on Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO) shares hit a new 52-week high 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 changing hands. The stock had previously closed at $164.31.

Several other analysts have also recently issued reports on the stock. Redburn Partners began coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective for the company. BMO Capital Markets upped their price target on shares of Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Evercore ISI upped their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Bank of America raised 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 report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.05.

Institutional Trading of Apollo Global Management

Large investors have recently added to or reduced their stakes in the business. PGGM Investments bought a new stake in Apollo Global Management during the first quarter worth approximately $840,000. Mackenzie Financial Corp lifted its position in shares of Apollo Global Management by 4.5% in the 2nd 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. Forsta AP Fonden lifted its position in shares of Apollo Global Management by 8.4% in the 3rd quarter. Forsta AP Fonden now owns 143,600 shares of the financial services provider’s stock valued at $17,937,000 after acquiring an additional 11,100 shares in the last quarter. Ameliora Wealth Management Ltd. lifted its position in shares of Apollo Global Management by 445.8% in the 2nd quarter. Ameliora Wealth Management Ltd. now owns 21,980 shares of the financial services provider’s stock valued at $2,595,000 after acquiring an additional 17,953 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Apollo Global Management by 116.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 229,359 shares of the financial services provider’s stock valued at $25,791,000 after acquiring an additional 123,559 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Trading Up 2.3 %

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $95.11 billion, a PE ratio of 17.53, a P/E/G ratio of 1.69 and a beta of 1.59. The company’s 50-day moving average is $138.59 and its 200 day moving average is $123.09.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a $0.463 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is 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.