Apollo Global Management (NYSE:APO) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Apollo Global Management (NYSE:APO) in a report issued on Friday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $127.00 price objective on the financial services provider’s stock.

APO has been the subject of a number of other reports. UBS Group upped their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. lifted their target price on shares of Apollo Global Management from $150.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada upped their target price on shares of Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley cut their price target on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.36.

Apollo Global Management Stock Up 0.3%

APO stock opened at $114.33 on Friday. The business’s 50-day moving average price is $128.97 and its 200-day moving average price is $124.87. The stock has a market cap of $67.52 billion, a P/E ratio of 41.88, a PEG ratio of 1.00 and a beta of 1.58. The company has a quick ratio of 1.70, a current 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.

Apollo Global Management (NYSE:APO) last released its 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 return on equity of 14.01% and a net margin of 5.22%.The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the company posted $1.92 earnings per share. On average, equities research analysts forecast that Apollo Global Management will post 8.04 EPS for the current year.

Apollo Global Management Announces Dividend

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

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.30% of the company’s stock.

Institutional Trading of Apollo Global Management

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nykredit A S purchased a new position in shares of Apollo Global Management in the 2nd quarter worth approximately $14,515,000. Louisiana State Employees Retirement System bought a new position in shares of Apollo Global Management during the 1st quarter valued at approximately $2,641,000. Hsbc Holdings PLC raised its holdings in Apollo Global Management by 7.1% during the 4th quarter. Hsbc Holdings PLC now owns 894,451 shares of the financial services provider’s stock valued at $129,786,000 after buying an additional 59,585 shares during the period. Deutsche Bank AG purchased a new stake in Apollo Global Management during the 2nd quarter valued at $172,290,000. Finally, Focus Partners Wealth lifted its position in Apollo Global Management by 2,560.3% in the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock worth $203,324,000 after buying an additional 1,351,778 shares during the last quarter. 77.06% of the stock is currently owned by 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.