Apollo Global Management (NYSE:APO) Reaches New 12-Month High After Dividend Announcement

Shares of Apollo Global Management, Inc. (NYSE:APO) reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $151.09 and last traded at $149.26, with a volume of 146517 shares traded. The stock had previously closed at $139.43.

The newly announced dividend which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.13%. Apollo Global Management’s dividend payout ratio is currently 19.72%.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. TD Cowen lifted their price objective on Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their target price on Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on Apollo Global Management from $138.00 to $157.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Argus lowered their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.83.

Apollo Global Management Stock Up 9.6 %

The firm has a 50-day moving average price of $130.21 and a two-hundred day moving average price of $120.07. The company has a market capitalization of $93.21 billion, a P/E ratio of 17.45, a PEG ratio of 1.55 and a beta of 1.59. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

Institutional Trading of Apollo Global Management

A number of hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC grew its position in Apollo Global Management by 193.3% during the first quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock worth $5,755,000 after buying an additional 33,731 shares in the last quarter. PGGM Investments acquired a new stake in shares of Apollo Global Management during the 1st quarter worth approximately $840,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Apollo Global Management by 38.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 34,709 shares of the financial services provider’s stock valued at $3,903,000 after purchasing an additional 9,708 shares during the period. Mackenzie Financial Corp raised its stake in shares of Apollo Global Management by 4.5% in the second quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider’s stock valued at $21,119,000 after purchasing an additional 7,679 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in Apollo Global Management by 8.4% in the third quarter. Forsta AP Fonden now owns 143,600 shares of the financial services provider’s stock worth $17,937,000 after purchasing an additional 11,100 shares during the period. 77.06% of the stock is owned by institutional investors.

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.