Apollo Global Management (NYSE:APO) Price Target Raised to $138.00 at BMO Capital Markets

Apollo Global Management (NYSE:APO) had its target price raised by BMO Capital Markets from $123.00 to $138.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on APO. Redburn Partners started coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a buy rating and a $153.00 target price on the stock. Wells Fargo & Company increased their target price on Apollo Global Management from $132.00 to $148.00 and gave the company an overweight rating in a research report on Wednesday. Argus dropped their target price on Apollo Global Management from $135.00 to $125.00 and set a buy rating on the stock in a research report on Tuesday, August 20th. Wolfe Research initiated coverage on Apollo Global Management in a research report on Wednesday, September 25th. They set an outperform rating and a $139.00 target price on the stock. Finally, Bank of America upgraded Apollo Global Management from a neutral rating to a buy rating and decreased their price objective for the company from $124.00 to $123.00 in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $134.76.

Apollo Global Management Stock Up 0.5 %

Shares of NYSE APO opened at $132.70 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $75.39 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.30 and a beta of 1.61. The stock has a 50 day moving average price of $114.37 and a 200 day moving average price of $114.66. Apollo Global Management has a 52-week low of $77.11 and a 52-week high of $135.29.

Apollo Global Management (NYSE:APO) last announced 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). The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same period last year, the business posted $1.54 EPS. Sell-side analysts expect that Apollo Global Management will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.4625 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.39%. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Insider Buying and Selling

In other news, Director Pauline Richards bought 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the purchase, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apollo Global Management

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Apollo Global Management by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after buying an additional 750,781 shares during the last quarter. Capital International Investors raised its stake in shares of Apollo Global Management by 2.1% during the 4th quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock valued at $1,004,161,000 after buying an additional 218,566 shares during the last quarter. Putnam Investments LLC raised its stake in shares of Apollo Global Management by 2.8% during the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock valued at $553,476,000 after buying an additional 164,400 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after buying an additional 1,360,525 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Apollo Global Management by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after buying an additional 126,859 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Company Profile

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.