Wells Fargo & Company Begins Coverage on Apollo Global Management (NYSE:APO)

Wells Fargo & Company started coverage on shares of Apollo Global Management (NYSE:APO) in a report published on Thursday morning, MarketBeat reports. The firm issued an overweight rating and a $132.00 target price on the financial services provider’s stock.

Several other equities analysts have also commented on APO. UBS Group raised their price target on Apollo Global Management from $116.00 to $123.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. Redburn Atlantic initiated coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a buy rating and a $153.00 price target for the company. StockNews.com lowered shares of Apollo Global Management from a hold rating to a sell rating in a report on Thursday, August 8th. Bank of America upgraded Apollo Global Management from a neutral rating to a buy rating and lowered their target price for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Finally, Redburn Partners started coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a buy rating and a $153.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $129.06.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $114.39 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $65.15 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The firm has a 50-day moving average of $113.54 and a two-hundred day moving average of $113.40. Apollo Global Management has a 1 year low of $77.11 and a 1 year high of $126.45.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter in the previous year, the firm posted $1.54 EPS. On average, research analysts forecast that Apollo Global Management will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.62%. Apollo Global Management’s payout ratio is 20.49%.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the transaction, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Large investors have recently bought and sold shares of the company. Private Advisor Group LLC lifted its stake in Apollo Global Management by 14.3% during the 4th quarter. Private Advisor Group LLC now owns 7,956 shares of the financial services provider’s stock valued at $741,000 after acquiring an additional 994 shares during the period. Principal Securities Inc. purchased a new position in shares of Apollo Global Management during the fourth quarter worth $149,000. Jump Financial LLC lifted its position in Apollo Global Management by 50.9% during the fourth quarter. Jump Financial LLC now owns 4,878 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 1,645 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Apollo Global Management by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,012,870 shares of the financial services provider’s stock valued at $94,398,000 after purchasing an additional 14,303 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in Apollo Global Management by 37.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,809 shares of the financial services provider’s stock worth $914,000 after purchasing an additional 2,668 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.