Apollo Global Management (NYSE:APO) Price Target Raised to $135.00

Apollo Global Management (NYSE:APO) had its price target upped by The Goldman Sachs Group from $128.00 to $135.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on APO. TD Cowen upped their target price on shares of Apollo Global Management from $135.00 to $162.00 and gave the stock a buy rating in a research report on Wednesday. StockNews.com downgraded Apollo Global Management from a hold rating to a sell rating in a research report on Thursday, August 8th. Redburn Atlantic started coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a buy rating and a $153.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $123.00 to $138.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an overweight rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $134.78.

Apollo Global Management Trading Down 1.0 %

Shares of APO stock opened at $131.32 on Thursday. The stock has a fifty day simple moving average of $114.37 and a two-hundred day simple moving average of $114.66. Apollo Global Management has a 52-week low of $77.11 and a 52-week high of $135.29. The firm has a market capitalization of $74.61 billion, a PE ratio of 14.54, a PEG ratio of 1.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same period last year, the business posted $1.54 EPS. On average, analysts predict that Apollo Global Management will post 6.62 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.41%. Apollo Global Management’s payout ratio is 20.49%.

Insiders Place Their Bets

In related news, Director Pauline Richards purchased 2,351 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the purchase, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Institutional Trading of Apollo Global Management

Institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in Apollo Global Management during the 4th quarter valued at about $33,000. Cullen Frost Bankers Inc. purchased a new position in Apollo Global Management during the second quarter valued at approximately $35,000. J.Safra Asset Management Corp raised its stake in Apollo Global Management by 709.3% in the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares in the last quarter. Riverview Trust Co purchased a new stake in Apollo Global Management during the first quarter worth $45,000. Finally, Compass Wealth Management LLC lifted its holdings in Apollo Global Management by 48.7% during the first quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock worth $50,000 after buying an additional 146 shares during the period. 77.06% of the stock is currently owned by institutional investors.

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.