Keefe, Bruyette & Woods Issues Positive Forecast for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO) had its target price upped by Keefe, Bruyette & Woods from $162.00 to $173.00 in a research report sent to investors on Wednesday, MarketBeat reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently commented on APO. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Barclays boosted their target price on shares of Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup cut their price target on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Finally, Morgan Stanley dropped their price objective on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Apollo Global Management Price Performance

APO stock opened at $133.76 on Wednesday. The business’s 50-day moving average is $131.18 and its two-hundred day moving average is $136.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $76.51 billion, a P/E ratio of 25.00, a P/E/G ratio of 1.42 and a beta of 1.63. Apollo Global Management has a 1 year low of $102.58 and a 1 year high of $189.49.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period in the previous year, the company posted $1.64 earnings per share. Analysts anticipate that Apollo Global Management will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is currently 38.13%.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the sale, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the transaction, the insider owned 4,526,000 shares in the company, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Boston Partners purchased a new position in shares of Apollo Global Management during the first quarter worth about $370,543,000. Nuveen LLC acquired a new stake in Apollo Global Management during the 1st quarter worth approximately $342,335,000. Vanguard Group Inc. lifted its position in Apollo Global Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock worth $6,303,186,000 after acquiring an additional 893,428 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Apollo Global Management by 24.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after purchasing an additional 706,181 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Apollo Global Management by 33.0% in the first quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider’s stock valued at $338,737,000 after purchasing an additional 613,124 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, 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.