Apollo Global Management (APO) Hits New 52-Week High at $34.27

Apollo Global Management LLC (NYSE:APO) hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.27 and last traded at $34.27, with a volume of 1350000 shares changing hands. The stock had previously closed at $33.60.

Several equities research analysts have commented on APO shares. Zacks Investment Research downgraded shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Citigroup upped their target price on shares of Apollo Global Management from $35.50 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $35.00 target price on shares of Apollo Global Management in a research note on Thursday, October 12th. ValuEngine raised shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $30.00 target price (up previously from $28.00) on shares of Apollo Global Management in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $34.46.

The company has a market cap of $6,632.62, a price-to-earnings ratio of 11.21, a P/E/G ratio of 1.16 and a beta of 1.23. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.58.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.51. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The business had revenue of $645.20 million during the quarter, compared to analysts’ expectations of $467.72 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The firm’s revenue was up 31.1% on a year-over-year basis. equities analysts predict that Apollo Global Management LLC will post 2.99 earnings per share for the current year.

In related news, major shareholder Tiger Global Management Llc acquired 43,714 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $29.18 per share, with a total value of $1,275,574.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.11% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Stelac Advisory Services LLC bought a new position in Apollo Global Management in the 3rd quarter valued at about $117,000. First Midwest Bank Trust Division bought a new position in Apollo Global Management in the 3rd quarter valued at about $232,000. Wealthsource Partners LLC bought a new position in Apollo Global Management in the 3rd quarter valued at about $251,000. Bank of New York Mellon Corp bought a new position in Apollo Global Management in the 2nd quarter valued at about $240,000. Finally, Meridian Wealth Management LLC bought a new position in Apollo Global Management in the 3rd quarter valued at about $277,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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