Apollo Global Management (NYSE:APO) Reaches New 52-Week High at $36.83

Apollo Global Management LLC (NYSE:APO) hit a new 52-week high during trading on Thursday . The stock traded as high as $36.83 and last traded at $36.46, with a volume of 130001 shares changing hands. The stock had previously closed at $35.55.

Several equities research analysts recently weighed in on the company. Barclays assumed coverage on Apollo Global Management in a report on Monday, August 5th. They issued an “overweight” rating and a $45.00 target price for the company. Zacks Investment Research lowered Apollo Global Management from a “buy” rating to a “hold” rating in a report on Monday, August 5th. TheStreet upgraded Apollo Global Management from a “c” rating to an “a-” rating in a report on Friday, May 3rd. Morgan Stanley upped their price target on Apollo Global Management from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Finally, JMP Securities upped their price target on Apollo Global Management from $36.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday, June 7th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $39.56.

The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average of $34.23 and a 200-day moving average of $31.70. The firm has a market capitalization of $6.76 billion, a P/E ratio of -172.19, a P/E/G ratio of 0.90 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.02). The firm had revenue of $523.30 million during the quarter, compared to the consensus estimate of $398.72 million. During the same period last year, the firm posted $0.53 earnings per share. The firm’s revenue was down 17.8% on a year-over-year basis. Sell-side analysts predict that Apollo Global Management LLC will post 2.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.50 dividend. The ex-dividend date is Thursday, August 15th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 5.48%. Apollo Global Management’s payout ratio is currently -952.38%.

In other Apollo Global Management news, Director Pauline Richards purchased 2,720 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $30.85 per share, for a total transaction of $83,912.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 49.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APO. Rothschild Investment Corp IL raised its stake in Apollo Global Management by 0.5% during the 2nd quarter. Rothschild Investment Corp IL now owns 80,577 shares of the financial services provider’s stock worth $2,764,000 after buying an additional 400 shares during the period. Private Advisor Group LLC grew its holdings in Apollo Global Management by 4.5% during the second quarter. Private Advisor Group LLC now owns 13,058 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 560 shares during the period. Allen Investment Management LLC grew its holdings in Apollo Global Management by 1.4% during the first quarter. Allen Investment Management LLC now owns 41,305 shares of the financial services provider’s stock valued at $1,167,000 after purchasing an additional 589 shares during the period. MBM Wealth Consultants LLC lifted its position in shares of Apollo Global Management by 6.2% during the second quarter. MBM Wealth Consultants LLC now owns 11,108 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 648 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Apollo Global Management by 5.1% during the second quarter. Creative Planning now owns 14,138 shares of the financial services provider’s stock worth $485,000 after acquiring an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 73.29% of the company’s stock.

About Apollo Global Management (NYSE:APO)

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

Further Reading: Return on Equity (ROE)

Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.