Citigroup Cuts Apollo Global Management (NYSE:APO) Price Target to $138.00

Apollo Global Management (NYSE:APO) had its price target cut by Citigroup from $191.00 to $138.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also commented on APO. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Piper Sandler decreased their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Barclays reduced their target price on shares of Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.95.

Apollo Global Management Price Performance

APO stock opened at $123.99 on Tuesday. The company has a fifty day simple moving average of $142.41 and a two-hundred day simple moving average of $153.44. Apollo Global Management has a 52 week low of $95.11 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 firm has a market capitalization of $70.73 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is 25.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Lb 2018 Gst Trust bought 607,725 shares of the company’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds have recently made changes to their positions in the stock. Fourth Dimension Wealth LLC bought a new position in Apollo Global Management in the fourth quarter worth about $25,000. Hopwood Financial Services Inc. bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at approximately $34,000. Byrne Asset Management LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $37,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Apollo Global Management in the fourth quarter worth $39,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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.