Apollo Global Management (NYSE:APO) Hits New 1-Year High Following Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO) reached a new 52-week high during mid-day trading on Friday after BMO Capital Markets raised their price target on the stock from $96.00 to $103.00. The company traded as high as $92.40 and last traded at $91.89, with a volume of 395388 shares. The stock had previously closed at $91.17.

APO has been the topic of a number of other research reports. Morgan Stanley boosted their target price on Apollo Global Management from $81.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. Wells Fargo & Company boosted their target price on Apollo Global Management from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. TheStreet raised Apollo Global Management from a “c+” rating to a “b-” rating in a report on Tuesday, June 20th. The Goldman Sachs Group raised their target price on Apollo Global Management from $86.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, StockNews.com started coverage on shares of Apollo Global Management in a report on Thursday, August 17th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.38.

Insider Buying and Selling

In other Apollo Global Management news, insider James C. Zelter sold 11,093 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $77.53, for a total transaction of $860,040.29. Following the transaction, the insider now owns 5,779,169 shares of the company’s stock, valued at approximately $448,058,972.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider James C. Zelter sold 60,779 shares of the company’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $79.22, for a total transaction of $4,814,912.38. Following the completion of the sale, the insider now directly owns 5,678,785 shares in the company, valued at approximately $449,873,347.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James C. Zelter sold 11,093 shares of Apollo Global Management stock in a transaction on Friday, June 30th. The shares were sold at an average price of $77.53, for a total value of $860,040.29. Following the completion of the transaction, the insider now owns 5,779,169 shares in the company, valued at approximately $448,058,972.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,659 shares of company stock worth $8,696,359. 8.70% of the stock is owned by insiders.

Institutional Trading of Apollo Global Management

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust increased its position in shares of Apollo Global Management by 7,183.3% in the first quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 431 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Apollo Global Management in the 1st quarter valued at $30,000. Zions Bancorporation N.A. purchased a new position in Apollo Global Management in the first quarter valued at about $30,000. Ronald Blue Trust Inc. lifted its stake in shares of Apollo Global Management by 274.8% during the first quarter. Ronald Blue Trust Inc. now owns 491 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 360 shares in the last quarter. Finally, Close Asset Management Ltd purchased a new stake in shares of Apollo Global Management in the first quarter worth about $32,000. Institutional investors and hedge funds own 60.86% of the company’s stock.

Apollo Global Management Trading Up 0.6 %

The firm has a market cap of $51.99 billion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 0.65 and a beta of 1.67. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average price of $83.06 and a 200-day moving average price of $72.18.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.06). The firm had revenue of $793.00 million for the quarter, compared to analyst estimates of $781.82 million. Apollo Global Management had a net margin of 4.91% and a return on equity of 109.78%. As a group, research analysts expect that Apollo Global Management, Inc. will post 6.3 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 18th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.72 annualized dividend and a yield of 1.88%. Apollo Global Management’s dividend payout ratio is presently 81.52%.

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.