Keefe, Bruyette & Woods Issues Positive Forecast for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO) had its target price hoisted by Keefe, Bruyette & Woods from $168.00 to $196.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on the stock. TD Cowen upped their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wolfe Research assumed coverage on Apollo Global Management in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 target price for the company. Redburn Atlantic began coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Citigroup upped their price objective on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lifted their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday. One 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.63.

Apollo Global Management Price Performance

APO stock opened at $171.03 on Friday. The stock has a market cap of $96.77 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.84 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50 day simple moving average of $161.44 and a 200 day simple moving average of $133.00. Apollo Global Management has a 1 year low of $89.76 and a 1 year high of $189.49.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were given a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is presently 19.33%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Apollo Global Management

A number of hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new position in Apollo Global Management during the 2nd quarter worth $62,972,000. Marshall Wace LLP lifted its position in shares of Apollo Global Management by 74.5% during the second quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock valued at $112,836,000 after purchasing an additional 408,105 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Apollo Global Management by 27.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the last quarter. International Assets Investment Management LLC grew its position in Apollo Global Management by 12,086.7% in the 3rd quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock worth $462,460,000 after purchasing an additional 367,195 shares in the last quarter. Finally, Holocene Advisors LP increased its stake in Apollo Global Management by 530.9% in the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after buying an additional 338,472 shares during the last quarter. 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, 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.