Apollo Global Management, Inc. (NYSE:APO) Short Interest Up 24.6% in October

Apollo Global Management, Inc. (NYSE:APO) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 27,320,000 shares, an increase of 24.6% from the October 15th total of 21,930,000 shares. Based on an average daily trading volume, of 2,910,000 shares, the days-to-cover ratio is currently 9.4 days.

Apollo Global Management Trading Down 0.4 %

Apollo Global Management stock traded down $0.68 during trading hours on Friday, reaching $163.63. 2,519,381 shares of the company’s stock were exchanged, compared to its average volume of 3,174,696. The firm has a market capitalization of $92.59 billion, a PE ratio of 17.10, a PEG ratio of 1.69 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm’s 50 day simple moving average is $137.45 and its 200 day simple moving average is $122.61. Apollo Global Management has a twelve month low of $85.84 and a twelve month high of $168.67.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a dividend of $0.463 per share. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a yield of 1.13%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is currently 19.33%.

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors have recently added to or reduced their stakes in APO. Geode Capital Management LLC increased its stake in shares of Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after acquiring an additional 254,268 shares in the last quarter. Capital Research Global Investors increased its stake in Apollo Global Management by 40.3% in the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after purchasing an additional 1,360,525 shares in the last quarter. Legal & General Group Plc increased its stake in Apollo Global Management by 3.0% in the second quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after purchasing an additional 126,859 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Apollo Global Management by 3.8% during the second quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock valued at $318,522,000 after purchasing an additional 97,797 shares during the period. Finally, Curated Wealth Partners LLC boosted its position in shares of Apollo Global Management by 200.3% during the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock worth $278,945,000 after purchasing an additional 4,717,661 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Redburn Atlantic assumed coverage on 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. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their target price for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods boosted their price target on Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.83.

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.