Apollo Global Management (NYSE:APO) Price Target Cut to $131.00 by Analysts at Barclays

Apollo Global Management (NYSE:APO) had its price objective decreased by Barclays from $133.00 to $131.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an outperform rating in a research report on Thursday, March 7th. JMP Securities reiterated a market perform rating on shares of Apollo Global Management in a report on Tuesday, April 9th. BMO Capital Markets raised their target price on Apollo Global Management from $111.00 to $122.00 and gave the company an outperform rating in a research note on Friday, April 5th. Morgan Stanley boosted their price target on Apollo Global Management from $94.00 to $99.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. Finally, TD Cowen began coverage on Apollo Global Management in a research note on Thursday, January 4th. They issued an outperform rating and a $115.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $114.31.

Apollo Global Management Stock Down 2.3 %

Shares of NYSE APO opened at $109.46 on Friday. The stock has a fifty day moving average price of $111.11 and a 200 day moving average price of $99.97. The company has a market cap of $62.19 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.94 and a beta of 1.61. Apollo Global Management has a 12-month low of $57.50 and a 12-month high of $117.15. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The business had revenue of $795.00 million during the quarter, compared to analyst estimates of $823.27 million. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. Research analysts anticipate that Apollo Global Management will post 7.43 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.463 per share. The ex-dividend date is Thursday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 annualized dividend and a dividend yield of 1.69%. Apollo Global Management’s dividend payout ratio is 19.05%.

Insider Activity

In related news, insider Leon D. Black sold 300,000 shares of the stock in a transaction that occurred on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total value of $33,453,000.00. Following the completion of the transaction, the insider now directly owns 43,054,773 shares of the company’s stock, valued at approximately $4,801,037,737.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Leon D. Black sold 300,000 shares of the stock in a transaction that occurred on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total value of $33,453,000.00. Following the completion of the transaction, the insider now directly owns 43,054,773 shares of the company’s stock, valued at approximately $4,801,037,737.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James C. Zelter sold 150,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the completion of the transaction, the insider now directly owns 1,454,588 shares of the company’s stock, valued at $158,782,826.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,426,000 shares of company stock valued at $158,226,960. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors have recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC acquired a new stake in Apollo Global Management in the fourth quarter worth approximately $31,000. DSM Capital Partners LLC acquired a new stake in Apollo Global Management in the fourth quarter worth approximately $31,000. True Wealth Design LLC acquired a new stake in Apollo Global Management in the fourth quarter worth approximately $33,000. CVA Family Office LLC acquired a new stake in Apollo Global Management in the fourth quarter worth approximately $34,000. Finally, Blue Trust Inc. lifted its position in Apollo Global Management by 151.4% in the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 221 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.