Apollo Global Management (NYSE:APO) Price Target Raised to $197.00

Apollo Global Management (NYSE:APO) had its price objective hoisted by Wells Fargo & Company from $164.00 to $197.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Evercore ISI increased their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Argus dropped their target price on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Redburn Atlantic initiated 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 target on the stock. Citigroup boosted their price objective on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $160.89.

Apollo Global Management Price Performance

NYSE APO opened at $176.43 on Thursday. The firm’s 50-day simple moving average is $157.91 and its two-hundred day simple moving average is $131.00. Apollo Global Management has a 52 week low of $89.76 and a 52 week high of $189.49. 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 company has a market cap of $99.83 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a $0.463 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.05%. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 133,400 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the sale, the insider now directly owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,600 shares of company stock valued at $34,186,128. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APO. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management in the second quarter worth approximately $35,000. Compagnie Lombard Odier SCmA bought a new position in Apollo Global Management in the 3rd quarter valued at approximately $35,000. Prospera Private Wealth LLC bought a new position in Apollo Global Management in the 3rd quarter valued at approximately $80,000. Truvestments Capital LLC purchased a new stake in Apollo Global Management during the 3rd quarter valued at $83,000. Finally, Allworth Financial LP increased its holdings in shares of Apollo Global Management by 14.3% in the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other 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.