Apollo Global Management (NYSE:APO) Price Target Raised to $128.00

Apollo Global Management (NYSE:APO) had its target price hoisted by Evercore ISI from $120.00 to $128.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. TD Cowen began coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They set an outperform rating and a $115.00 price objective on the stock. Barclays cut their price target on shares of Apollo Global Management from $133.00 to $131.00 and set an overweight rating on the stock in a report on Friday. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an overweight rating in a research note on Friday, February 9th. JMP Securities reaffirmed a market perform rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Finally, Morgan Stanley raised their price target on Apollo Global Management from $94.00 to $99.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $114.31.

Apollo Global Management Trading Down 2.3 %

APO opened at $109.46 on Friday. The stock has a 50-day moving average of $111.11 and a 200 day moving average of $100.05. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. Apollo Global Management has a 12 month low of $57.50 and a 12 month high of $117.15. The firm has a market cap of $62.19 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.92 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The firm had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. As a group, research analysts forecast that Apollo Global Management will post 7.43 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a yield of 1.69%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.05%.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 14,000 shares of Apollo Global Management stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.09, for a total value of $1,527,260.00. Following the transaction, the chief financial officer now directly owns 366,572 shares in the company, valued at approximately $39,989,339.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the sale, the chief financial officer now owns 366,572 shares of the company’s stock, valued at $39,989,339.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 300,000 shares of the business’s stock in a transaction dated Saturday, February 24th. The stock was sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the completion of the transaction, the insider now owns 43,054,773 shares of the company’s stock, valued at $4,801,037,737.23. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock valued at $158,226,960 over the last 90 days. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Apollo Global Management

A number of institutional investors have recently made changes to their positions in APO. Strategic Blueprint LLC grew its stake in shares of Apollo Global Management by 42.4% during the fourth quarter. Strategic Blueprint LLC now owns 46,585 shares of the financial services provider’s stock worth $4,341,000 after acquiring an additional 13,870 shares during the last quarter. Nordea Investment Management AB increased its stake in Apollo Global Management by 129.8% during the 4th quarter. Nordea Investment Management AB now owns 658,008 shares of the financial services provider’s stock valued at $61,497,000 after purchasing an additional 371,721 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Apollo Global Management by 39.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 185,206 shares of the financial services provider’s stock worth $17,259,000 after buying an additional 52,063 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Apollo Global Management by 3.5% during the fourth quarter. Raymond James & Associates now owns 1,073,419 shares of the financial services provider’s stock worth $100,032,000 after buying an additional 36,748 shares during the period. Finally, Pathstone Family Office LLC lifted its stake in shares of Apollo Global Management by 28.6% during the third quarter. Pathstone Family Office LLC now owns 26,993 shares of the financial services provider’s stock worth $2,423,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.