Apollo Global Management (NYSE:APO) Price Target Raised to $155.00

Apollo Global Management (NYSE:APO) had its price objective upped by Evercore ISI from $145.00 to $155.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets assumed coverage on Apollo Global Management in a report on Friday, October 3rd. They set a “market perform” rating and a $132.00 target price for the company. Wells Fargo & Company boosted their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Finally, Morgan Stanley reduced their price target on shares of Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Apollo Global Management Trading Up 2.6%

Shares of Apollo Global Management stock opened at $132.34 on Wednesday. The business has a fifty day simple moving average of $130.95 and a 200-day simple moving average of $136.23. Apollo Global Management has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The firm has a market cap of $75.70 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.24. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The business’s revenue was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. On average, equities analysts forecast that Apollo Global Management will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is currently 38.13%.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the transaction, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APO. Vanguard Group Inc. lifted its holdings in shares of Apollo Global Management by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider’s stock valued at $6,319,617,000 after buying an additional 1,377,545 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after acquiring an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Apollo Global Management by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock worth $432,727,000 after acquiring an additional 36,866 shares in the last quarter. Boston Partners bought a new stake in Apollo Global Management in the first quarter worth approximately $370,543,000. Finally, Allen Investment Management LLC increased its stake in shares of Apollo Global Management by 14.4% during the 1st quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock worth $361,664,000 after purchasing an additional 333,428 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

About Apollo Global Management

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.