Apollo Global Management (NYSE:APO) Price Target Raised to $202.00

Apollo Global Management (NYSE:APO) had its price objective upped by Piper Sandler from $188.00 to $202.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

APO has been the topic of a number of other research reports. Evercore ISI boosted their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Cowen lifted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

Apollo Global Management Stock Performance

APO opened at $171.03 on Wednesday. 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 stock’s 50 day moving average price is $160.82 and its two-hundred day moving average price is $132.49. The firm has a market capitalization of $96.77 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63. Apollo Global Management has a 12-month low of $89.76 and a 12-month high of $189.49.

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 issued a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.08%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 19.33%.

Insiders Place Their Bets

In related news, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,600 shares of company stock valued at $34,186,128. 8.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after acquiring an additional 254,268 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Apollo Global Management by 3.0% during the second quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after buying an additional 126,859 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Apollo Global Management by 3.8% during the second quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock worth $318,522,000 after buying an additional 97,797 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after acquiring an additional 383,557 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Apollo Global Management by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock worth $167,298,000 after acquiring an additional 4,892 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.