Apollo Global Management (NYSE:APO) Price Target Raised to $130.00

Apollo Global Management (NYSE:APO) had its price objective raised by Evercore ISI from $128.00 to $130.00 in a report published on Monday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research firms have also weighed in on APO. BMO Capital Markets boosted their target price on Apollo Global Management from $111.00 to $122.00 and gave the stock an outperform rating in a report on Friday, April 5th. Jefferies Financial Group reduced their target price on Apollo Global Management from $119.00 to $117.00 and set a hold rating for the company in a report on Thursday, May 9th. UBS Group boosted their target price on Apollo Global Management from $116.00 to $123.00 and gave the stock a neutral rating in a report on Wednesday, July 10th. StockNews.com upgraded Apollo Global Management from a sell rating to a hold rating in a report on Saturday, July 13th. Finally, JPMorgan Chase & Co. boosted their target price on Apollo Global Management from $122.00 to $123.00 and gave the stock an overweight rating in a report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Apollo Global Management currently has an average rating of Moderate Buy and a consensus price target of $119.29.

Apollo Global Management Stock Down 2.2 %

Shares of Apollo Global Management stock opened at $121.26 on Monday. The firm has a market cap of $68.90 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. Apollo Global Management has a 52-week low of $77.11 and a 52-week high of $124.01. The stock has a 50-day simple moving average of $116.55 and a 200-day simple moving average of $110.43.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.21). The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $827.33 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. On average, equities research analysts expect that Apollo Global Management will post 7.11 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $0.463 per share. The ex-dividend date was Thursday, May 16th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.53%. Apollo Global Management’s payout ratio is currently 20.49%.

Insider Activity

In other news, CFO Martin Kelly sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Apollo Global Management

A number of institutional investors and hedge funds have recently modified their holdings of APO. CWA Asset Management Group LLC grew its position in Apollo Global Management by 2.8% in the fourth quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 94 shares during the period. Zhang Financial LLC grew its position in Apollo Global Management by 0.6% in the first quarter. Zhang Financial LLC now owns 17,724 shares of the financial services provider’s stock valued at $1,993,000 after acquiring an additional 97 shares during the period. Orion Capital Management LLC grew its position in Apollo Global Management by 20.0% in the first quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 100 shares during the period. Lindbrook Capital LLC grew its position in Apollo Global Management by 8.5% in the first quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 102 shares during the period. Finally, Valley National Advisers Inc. grew its position in Apollo Global Management by 0.9% in the first quarter. Valley National Advisers Inc. now owns 11,519 shares of the financial services provider’s stock valued at $1,295,000 after acquiring an additional 104 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Company Profile

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.