Stock Traders Buy Large Volume of Apollo Global Management Call Options (NYSE:APO)

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

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $167.56 on Friday. The business’s 50-day simple moving average is $143.02 and its 200-day simple moving average is $124.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management has a 52 week low of $88.58 and a 52 week high of $169.58. The firm has a market cap of $94.81 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 1.70 and a beta of 1.59.

Apollo Global Management Increases Dividend

The business also recently disclosed 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 of this dividend is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Wall Street Analyst Weigh In

APO has been the subject of a number of research analyst reports. Redburn Atlantic started coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their target price on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and cut their price target for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $155.05.

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in APO. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management during the 2nd quarter worth about $35,000. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management during the third quarter valued at approximately $35,000. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 period. Prospera Private Wealth LLC acquired a new stake in Apollo Global Management in the 3rd quarter valued at $80,000. Finally, Mather Group LLC. grew its position in Apollo Global Management by 826.9% in the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 645 shares during the period. 77.06% of the stock is currently owned by institutional investors.

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.