Apollo Global Management (NYSE:APO) PT Lowered to $131.00 at Barclays

Apollo Global Management (NYSE:APO) had its price target cut by Barclays from $133.00 to $131.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Morgan Stanley raised their price target on shares of Apollo Global Management from $94.00 to $99.00 and gave the stock an equal weight rating in a report on Wednesday, January 24th. Wells Fargo & Company lifted their target price on shares of Apollo Global Management from $110.00 to $118.00 and gave the company an overweight rating in a research note on Friday, February 9th. Citigroup upped their price target on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. TD Cowen began coverage on Apollo Global Management in a report on Thursday, January 4th. They set an outperform rating and a $115.00 price objective for the company. Finally, JMP Securities restated a market perform rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $114.31.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $111.48 on Friday. Apollo Global Management has a 12 month low of $59.89 and a 12 month high of $117.15. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34. The stock has a market cap of $63.34 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.92 and a beta of 1.61. The business has a fifty day simple moving average of $111.11 and a 200-day simple moving average of $100.14.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. The firm had revenue of $795.00 million during the quarter, compared to analyst estimates of $823.27 million. On average, sell-side 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 disclosed 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. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, May 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.66%. Apollo Global Management’s dividend payout ratio is currently 19.05%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 14,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $109.09, for a total value of $1,527,260.00. Following the completion of the sale, the chief financial officer now directly owns 366,572 shares in the company, valued at $39,989,339.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $109.09, for a total value of $1,527,260.00. Following the sale, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at $39,989,339.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total value of $55,720,000.00. Following the completion of the transaction, the insider now owns 44,104,773 shares in the company, valued at $4,915,035,903.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,426,000 shares of company stock valued at $158,226,960. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Apollo Global Management during the fourth quarter worth $586,016,000. TD Asset Management Inc increased its holdings in shares of Apollo Global Management by 4,248.9% during the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock worth $229,176,000 after purchasing an additional 2,402,686 shares during the period. FMR LLC raised its position in shares of Apollo Global Management by 18.9% during the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after buying an additional 1,584,201 shares during the last quarter. PointState Capital LP bought a new stake in shares of Apollo Global Management in the third quarter valued at about $98,382,000. Finally, Third Point LLC bought a new stake in shares of Apollo Global Management in the fourth quarter valued at about $83,871,000. 77.06% of the stock is owned by institutional investors.

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.