Apollo Global Management (NYSE:APO) Shares Gap Up Following Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO) gapped up before the market opened on Monday after TD Cowen raised their price target on the stock from $178.00 to $230.00. The stock had previously closed at $177.85, but opened at $189.30. TD Cowen currently has a buy rating on the stock. Apollo Global Management shares last traded at $184.13, with a volume of 4,037,693 shares.

APO has been the subject of a number of other reports. The Goldman Sachs Group upped their price target 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. Evercore ISI increased their target price on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Redburn Atlantic began coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. StockNews.com upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets raised their price objective on shares of Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.16.

Insider Activity at Apollo Global Management

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

Institutional Trading of Apollo Global Management

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Apollo Global Management in the third quarter valued at $503,000. Sfmg LLC grew its holdings in Apollo Global Management by 1.1% during the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after acquiring an additional 79 shares during the last quarter. World Investment Advisors LLC increased its position in Apollo Global Management by 1.8% in the 3rd quarter. World Investment Advisors LLC now owns 6,823 shares of the financial services provider’s stock valued at $852,000 after acquiring an additional 119 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Apollo Global Management by 11.5% in the third quarter. Sanctuary Advisors LLC now owns 110,347 shares of the financial services provider’s stock worth $13,783,000 after acquiring an additional 11,370 shares during the last quarter. Finally, Unigestion Holding SA acquired a new position in shares of Apollo Global Management during the third quarter worth approximately $609,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Price Performance

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 $154.41 and its 200-day moving average price is $129.39. The company has a market capitalization of $97.56 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.07%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

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.