Apollo Global Management (NYSE:APO) Hits New 52-Week High After Dividend Announcement

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

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

Analyst Ratings Changes

Several analysts have commented on APO shares. Redburn Atlantic began coverage on Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. UBS Group increased their price objective on Apollo Global Management from $117.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Argus decreased their target price on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. The Goldman Sachs Group raised their price target on shares of Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.83.

Apollo Global Management Price Performance

The stock has a market cap of $93.21 billion, a PE ratio of 17.45, a P/E/G ratio of 1.55 and a beta of 1.59. The firm’s fifty day moving average price is $130.21 and its 200 day moving average price is $120.07. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors have recently added to or reduced their stakes in APO. Norden Group LLC purchased a new position in shares of Apollo Global Management in the first quarter valued at $708,000. Private Advisor Group LLC grew its stake in shares of Apollo Global Management by 18.9% in the 1st quarter. Private Advisor Group LLC now owns 9,460 shares of the financial services provider’s stock worth $1,064,000 after buying an additional 1,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Apollo Global Management by 69.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,103 shares of the financial services provider’s stock worth $7,240,000 after buying an additional 26,693 shares during the last quarter. Signaturefd LLC raised its position in shares of Apollo Global Management by 4.6% during the 1st quarter. Signaturefd LLC now owns 8,546 shares of the financial services provider’s stock valued at $961,000 after buying an additional 372 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in Apollo Global Management by 1.0% in the first quarter. Advisory Services Network LLC now owns 36,348 shares of the financial services provider’s stock worth $4,087,000 after acquiring an additional 376 shares in the last quarter. Hedge funds and other 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.