Apollo Global Management (NYSE:APO) Hits New 12-Month High at $67.28

Shares of Apollo Global Management, Inc. (NYSE:APO) hit a new 52-week high on Thursday . The company traded as high as $67.28 and last traded at $67.17, with a volume of 2293 shares trading hands. The stock had previously closed at $66.04.

Several research firms have recently issued reports on APO. Citigroup upped their price target on Apollo Global Management from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Oppenheimer increased their price target on Apollo Global Management from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 5th. Zacks Investment Research raised Apollo Global Management from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Friday, October 8th. JMP Securities reissued a “hold” rating on shares of Apollo Global Management in a research note on Friday, August 20th. Finally, Morgan Stanley raised their price objective on shares of Apollo Global Management from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 20th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $64.11.

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.61 and a quick ratio of 1.61. The stock’s 50-day simple moving average is $60.79 and its two-hundred day simple moving average is $57.93. The firm has a market capitalization of $15.79 billion, a P/E ratio of 7.84 and a beta of 1.56.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, August 4th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.43. Apollo Global Management had a net margin of 34.10% and a return on equity of 17.32%. The business had revenue of $553.55 million for the quarter, compared to analysts’ expectations of $526.68 million. During the same period last year, the business earned $0.46 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. On average, analysts forecast that Apollo Global Management, Inc. will post 3.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Thursday, August 19th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.98%. Apollo Global Management’s payout ratio is 99.01%.

In related news, insider Joshua Harris sold 116,974 shares of the stock in a transaction on Wednesday, July 21st. The stock was sold at an average price of $58.43, for a total transaction of $6,834,790.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of $58.80, for a total value of $1,470,000.00. The disclosure for this sale can be found here. Insiders have sold 2,161,850 shares of company stock worth $128,525,656 over the last quarter. Insiders own 3.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in APO. WASHINGTON TRUST Co acquired a new position in Apollo Global Management during the 2nd quarter worth $25,000. Berman Capital Advisors LLC grew its stake in Apollo Global Management by 306.0% in the second quarter. Berman Capital Advisors LLC now owns 406 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Parkside Financial Bank & Trust bought a new stake in shares of Apollo Global Management during the 2nd quarter worth about $30,000. AGF Investments LLC bought a new stake in shares of Apollo Global Management during the 1st quarter worth about $31,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Apollo Global Management by 366.1% during the second quarter. Meeder Asset Management Inc. now owns 578 shares of the financial services provider’s stock worth $36,000 after buying an additional 454 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Apollo Global Management Company Profile (NYSE:APO)

Apollo Global Management, Inc engages in the provision of alternative investment management services. It operates through the following segments: Credit, Private Equity, and Real Assets. The Credit segment focuses on the investment in non-control corporate and structured debt instruments including performing, stressed, and distressed instruments across the capital structure.

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