Apollo Global Management (NYSE:APO) Reaches New 52-Week High Following Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO - Get Free Report) reached a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $116.00 to $123.00. UBS Group currently has a neutral rating on the stock. Apollo Global Management traded as high as $121.18 and last traded at $121.08, with a volume of 1154938 shares traded. The stock had previously closed at $119.21.

APO has been the subject of several other reports. Evercore ISI increased their price target on shares of Apollo Global Management from $120.00 to $128.00 and gave the company an "outperform" rating in a report on Friday, May 3rd. TD Cowen lifted their price objective on Apollo Global Management from $146.00 to $147.00 and gave the company a "buy" rating in a research report on Monday. BMO Capital Markets increased their target price on Apollo Global Management from $111.00 to $122.00 and gave the stock an "outperform" rating in a report on Friday, April 5th. JPMorgan Chase & Co. upped their price target on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group lowered their price objective on shares of Apollo Global Management from $119.00 to $117.00 and set a "hold" rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.43.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the sale, the chief financial officer now owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Apollo Global Management

Several hedge funds have recently modified their holdings of the company. Sugarloaf Wealth Management LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at about $31,000. DSM Capital Partners LLC bought a new position in Apollo Global Management during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp raised its holdings in Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider's stock worth $39,000 after purchasing an additional 305 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Stock Performance

The company has a market capitalization of $68.80 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.96 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. The company's 50-day moving average price is $115.74 and its two-hundred day moving average price is $109.50.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.21). Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $827.33 million. On average, equities research analysts anticipate that Apollo Global Management, Inc. will post 7.14 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $0.463 per share. The ex-dividend date of this dividend was Thursday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.43. This represents a $1.85 annualized dividend and a dividend yield of 1.53%. Apollo Global Management's payout ratio is presently 20.49%.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.