The Goldman Sachs Group Forecasts Strong Price Appreciation for Apollo Global Management (NYSE:APO) Stock

Apollo Global Management (NYSE:APO) had its price target raised by The Goldman Sachs Group from $161.00 to $178.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Evercore ISI lifted their target price on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays raised their price target on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. TD Cowen upped their price objective on Apollo Global Management from $165.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Redburn Partners assumed coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $155.05.

Apollo Global Management Price Performance

NYSE:APO opened at $165.02 on Tuesday. The business’s 50-day simple moving average is $141.96 and its two-hundred day simple moving average is $124.06. Apollo Global Management has a 52 week low of $88.18 and a 52 week high of $169.15. The stock has a market cap of $93.37 billion, a PE ratio of 17.24, a P/E/G ratio of 1.74 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.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of APO. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management during the 2nd quarter worth $35,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Apollo Global Management in the 3rd quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV increased its holdings in Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after buying an additional 346 shares during the period. Prospera Private Wealth LLC bought a new position in Apollo Global Management in the third quarter worth approximately $80,000. Finally, Mather Group LLC. lifted its holdings in Apollo Global Management by 826.9% during the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock worth $81,000 after buying an additional 645 shares during the period. Institutional investors 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, 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.