TD Cowen Cuts Apollo Global Management (NYSE:APO) Price Target to $144.00

Apollo Global Management (NYSE:APO) had its target price trimmed by TD Cowen from $214.00 to $144.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

APO has been the topic of a number of other reports. Morgan Stanley upped their price objective on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Barclays reduced their target price on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. BMO Capital Markets raised their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Citigroup reduced their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Bank of America increased their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have assigned 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 company currently has an average rating of “Moderate Buy” and an average target price of $157.95.

Apollo Global Management Price Performance

Shares of APO stock opened at $125.97 on Wednesday. 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 market capitalization of $71.87 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The firm’s 50-day moving average is $141.67 and its two-hundred day moving average is $153.45. Apollo Global Management has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.47%. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Insider Buying and Selling

In other news, insider Lb 2018 Gst Trust acquired 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, with a total value of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Institutional Trading of Apollo Global Management

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