Apollo Global Management (NYSE:APO) Sets New 52-Week High – Time to Buy?

Apollo Global Management, Inc. (NYSE:APO) shares hit a new 52-week high during trading on Monday . The stock traded as high as $172.05 and last traded at $172.05, with a volume of 3116 shares. The stock had previously closed at $167.56.

Analyst Upgrades and Downgrades

APO has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Evercore ISI increased their price objective on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Citigroup boosted their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Piper Sandler assumed coverage on shares of Apollo Global Management in a research note on Tuesday, November 19th. They issued an “overweight” rating and a $188.00 price target for the company. Finally, UBS Group raised shares of Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.05.

Apollo Global Management Price Performance

The stock has a market capitalization of $99.38 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.73 and a beta of 1.59. The business’s 50 day moving average price is $144.17 and its 200 day moving average price is $125.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.05%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. Apollo Global Management’s dividend payout ratio is presently 19.33%.

Institutional Trading of Apollo Global Management

Several large investors have recently modified their holdings of APO. Geode Capital Management LLC boosted its position in Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after purchasing an additional 254,268 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Apollo Global Management by 3.0% in the second quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after buying an additional 126,859 shares during the last quarter. TD Asset Management Inc grew its position in Apollo Global Management by 3.8% during the second quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock valued at $318,522,000 after buying an additional 97,797 shares during the period. Curated Wealth Partners LLC increased its holdings in Apollo Global Management by 200.3% during the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after buying an additional 4,717,661 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after acquiring an additional 383,557 shares during the period. Institutional investors own 77.06% of the company’s stock.

About Apollo Global Management

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.