Apollo Global Management (NYSE:APO) Stock Gets Price Target Reduction from TD Cowen

Apollo Global Management (NYSE:APO) had its price objective reduced by TD Cowen from $159.00 to $154.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

APO has been the subject of several other research reports. Barclays upped their target price on Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Rothschild & Co Redburn raised their target price on Apollo Global Management from $171.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Apollo Global Management from $150.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. UBS Group boosted their price target on Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, HSBC initiated coverage on Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $152.60.

Apollo Global Management Stock Down 2.4%

Shares of Apollo Global Management stock opened at $113.44 on Monday. The company has a fifty day moving average price of $127.41 and a 200 day moving average price of $125.19. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management has a twelve month low of $99.56 and a twelve month high of $153.29. The stock has a market cap of $66.99 billion, a price-to-earnings ratio of 41.55, a price-to-earnings-growth ratio of 1.03 and a beta of 1.58.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. Equities research analysts forecast that Apollo Global Management will post 8.00 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were issued a $0.5625 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 2.0%. Apollo Global Management’s payout ratio is currently 82.42%.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Institutional Trading of Apollo Global Management

Hedge funds and other institutional investors have recently modified their holdings of the business. Mather Group LLC. lifted its holdings in Apollo Global Management by 2,259.8% in the third quarter. Mather Group LLC. now owns 31,150 shares of the financial services provider’s stock worth $3,615,000 after purchasing an additional 29,830 shares during the period. Granite FO LLC grew its position in Apollo Global Management by 67.2% in the 3rd quarter. Granite FO LLC now owns 3,235 shares of the financial services provider’s stock valued at $346,000 after buying an additional 1,300 shares in the last quarter. Fortress Financial Solutions LLC bought a new position in Apollo Global Management in the 3rd quarter valued at about $212,000. Union Savings Bank increased its stake in Apollo Global Management by 1,343.0% during the 3rd quarter. Union Savings Bank now owns 1,443 shares of the financial services provider’s stock valued at $167,000 after buying an additional 1,343 shares during the period. Finally, Triumph Capital Management increased its stake in Apollo Global Management by 12,842.9% during the 3rd quarter. Triumph Capital Management now owns 906 shares of the financial services provider’s stock valued at $105,000 after buying an additional 899 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.