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.
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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