Apollo Global Management (NYSE:APO) Shares Up 5.2%
Apollo Global Management LLC (NYSE:APO)’s stock price shot up 5.2% during mid-day trading on Monday . The stock traded as high as $34.49 and last traded at $33.66, 3,994,062 shares changed hands during mid-day trading. An increase of 254% from the average session volume of 1,127,388 shares. The stock had previously closed at $32.00.
Several brokerages have issued reports on APO. Wells Fargo & Co increased their price target on Apollo Global Management from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. TheStreet upgraded Apollo Global Management from a “c” rating to an “a-” rating in a report on Friday, May 3rd. Barclays began coverage on Apollo Global Management in a report on Monday, August 5th. They issued an “overweight” rating and a $45.00 price target on the stock. Zacks Investment Research lowered Apollo Global Management from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Credit Suisse Group upgraded Apollo Global Management from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $42.00 in a report on Tuesday, May 21st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Apollo Global Management has an average rating of “Buy” and an average price target of $39.56.
The stock has a market capitalization of $6.89 billion, a PE ratio of -160.29, a P/E/G ratio of 0.83 and a beta of 1.50. The firm has a 50 day moving average price of $34.24 and a 200 day moving average price of $31.65. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.94%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, August 15th. Apollo Global Management’s dividend payout ratio (DPR) is presently -952.38%.
In other Apollo Global Management news, Director Pauline Richards purchased 2,720 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $30.85 per share, with a total value of $83,912.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 49.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of APO. Janus Henderson Group PLC increased its position in shares of Apollo Global Management by 387.3% during the second quarter. Janus Henderson Group PLC now owns 3,675,355 shares of the financial services provider’s stock valued at $126,065,000 after acquiring an additional 2,921,103 shares during the last quarter. Invesco Ltd. grew its holdings in Apollo Global Management by 755.9% during the second quarter. Invesco Ltd. now owns 1,708,708 shares of the financial services provider’s stock valued at $58,609,000 after purchasing an additional 1,509,059 shares during the period. Morgan Stanley grew its holdings in Apollo Global Management by 19.6% during the second quarter. Morgan Stanley now owns 8,166,139 shares of the financial services provider’s stock valued at $280,099,000 after purchasing an additional 1,338,115 shares during the period. Wells Fargo & Company MN grew its holdings in Apollo Global Management by 461.1% during the second quarter. Wells Fargo & Company MN now owns 1,012,332 shares of the financial services provider’s stock valued at $34,723,000 after purchasing an additional 831,898 shares during the period. Finally, Bank of Montreal Can grew its holdings in Apollo Global Management by 15.4% during the first quarter. Bank of Montreal Can now owns 4,510,247 shares of the financial services provider’s stock valued at $127,415,000 after purchasing an additional 601,147 shares during the period. 73.29% of the stock is owned by institutional investors.
Apollo Global Management Company Profile (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.
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