Piper Sandler Cuts Apollo Global Management (NYSE:APO) Price Target to $174.00

Apollo Global Management (NYSE:APO) had its target price trimmed by Piper Sandler from $193.00 to $174.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley dropped their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Citigroup reduced their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Bank of America raised their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. TD Cowen reduced their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Barclays increased their target price on Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.85.

Apollo Global Management Trading Up 0.0 %

NYSE APO opened at $129.34 on Monday. The stock has a market capitalization of $73.79 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.17 and a beta of 1.67. The business’s fifty day moving average is $132.15 and its 200-day moving average is $152.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management (NYSE:APO) last released its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm’s revenue was down 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.72 earnings per share. Equities research analysts predict that Apollo Global Management will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.51 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.58%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is 35.73%.

Insider Activity at Apollo Global Management

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of Apollo Global Management stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 4,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the sale, the chief financial officer now directly owns 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 509,000 shares of company stock worth $72,321,680 over the last quarter. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apollo Global Management

A number of institutional investors have recently modified their holdings of APO. Fourth Dimension Wealth LLC bought a new position in Apollo Global Management in the 4th quarter worth about $25,000. GW&K Investment Management LLC lifted its stake in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after buying an additional 171 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in Apollo Global Management in the 4th quarter worth approximately $33,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the 4th quarter valued at approximately $34,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.