Apollo Global Management (NYSE:APO) Price Target Raised to $138.00

Apollo Global Management (NYSE:APO) had its price target raised by BMO Capital Markets from $123.00 to $138.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Bank of America upgraded Apollo Global Management from a neutral rating to a buy rating and dropped their price objective for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Barclays dropped their price objective on Apollo Global Management from $131.00 to $128.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Redburn Partners started coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a buy rating and a $153.00 target price for the company. Keefe, Bruyette & Woods upped their target price on Apollo Global Management from $134.00 to $141.00 and gave the stock an outperform rating in a research report on Friday, July 12th. Finally, TD Cowen upped their target price on Apollo Global Management from $146.00 to $147.00 and gave the stock a buy rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $134.78.

Apollo Global Management Trading Up 3.0 %

NYSE:APO opened at $135.32 on Wednesday. The stock’s 50 day moving average price is $114.56 and its 200 day moving average price is $114.77. Apollo Global Management has a 52 week low of $77.11 and a 52 week high of $136.26. The company has a market capitalization of $76.88 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.30 and a beta of 1.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26.

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

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.37%. Apollo Global Management’s dividend payout ratio is 20.49%.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC raised its stake in shares of Apollo Global Management by 112.3% in the first quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after purchasing an additional 552,893 shares in the last quarter. CenterBook Partners LP raised its stake in shares of Apollo Global Management by 59.9% in the fourth quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock valued at $1,933,000 after purchasing an additional 7,769 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Apollo Global Management by 193.3% in the first quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock valued at $5,755,000 after purchasing an additional 33,731 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Apollo Global Management in the first quarter valued at $1,731,000. Finally, Cobalt Capital Management Inc. acquired a new position in shares of Apollo Global Management in the fourth quarter valued at $932,000. 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.