Traders Purchase Large Volume of Call Options on Apollo Global Management (NYSE:APO)

Apollo Global Management, Inc. (NYSE:APO) was the target of unusually large options trading on Friday. Stock investors acquired 21,603 call options on the company. This represents an increase of approximately 48% compared to the typical daily volume of 14,556 call options.

Institutional Trading of Apollo Global Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in Apollo Global Management in the 2nd quarter valued at about $35,000. Compagnie Lombard Odier SCmA purchased a new position in Apollo Global Management during the third quarter valued at approximately $35,000. Massmutual Trust Co. FSB ADV grew its stake in Apollo Global Management by 293.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after buying an additional 346 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Apollo Global Management during the third quarter worth about $80,000. Finally, Mather Group LLC. raised its position in shares of Apollo Global Management by 826.9% in the 2nd quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 645 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APO has been the topic of several recent research reports. Wolfe Research started coverage on shares of Apollo Global Management in a research report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 target price on the stock. Redburn Atlantic initiated coverage on Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Barclays increased their price objective on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI lifted their target price on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.05.

Apollo Global Management Price Performance

Shares of NYSE:APO traded up $3.19 during mid-day trading on Friday, reaching $168.21. The stock had a trading volume of 1,124,606 shares, compared to its average volume of 2,686,483. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market cap of $95.18 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.74 and a beta of 1.59. Apollo Global Management has a 1 year low of $88.58 and a 1 year high of $169.58. The business’s 50 day moving average price is $141.96 and its 200 day moving average price is $124.06.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.463 per share. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.10%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 19.33%.

Apollo Global Management Company Profile

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.