Apollo Global Management (NYSE:APO) Sets New 1-Year High After Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO - Get Free Report)'s stock price hit 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. The stock had previously closed at $164.31.

APO has been the topic of a number of other research reports. Wolfe Research initiated coverage on Apollo Global Management in a research note on Wednesday, September 25th. They set an "outperform" rating and a $139.00 price objective on the stock. Wells Fargo & Company boosted their price target on Apollo Global Management from $149.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Evercore ISI upped their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. UBS Group upgraded shares of Apollo Global Management to a "hold" rating in a research note on Wednesday, November 13th. Finally, TD Cowen raised their price target on shares of Apollo Global Management from $165.00 to $178.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and a consensus price target of $155.05.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PGGM Investments acquired a new position in Apollo Global Management during the first quarter worth $840,000. Mackenzie Financial Corp raised its stake 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 holdings in 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 worth $17,937,000 after purchasing an additional 11,100 shares during the last quarter. Ameliora Wealth Management Ltd. lifted its holdings in 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 worth $2,595,000 after purchasing an additional 17,953 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Apollo Global Management by 116.8% during the first quarter. Canada Pension Plan Investment Board now owns 229,359 shares of the financial services provider's stock worth $25,791,000 after purchasing an additional 123,559 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

The firm has a fifty day simple moving average of $139.82 and a 200 day simple moving average of $123.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $95.22 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.69 and a beta of 1.59.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a $0.463 dividend. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management's dividend payout ratio (DPR) is currently 19.33%.

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.