Apollo Global Management (NYSE:APO) Given New $190.00 Price Target at Bank of America

Apollo Global Management (NYSE:APO) had its target price hoisted by Bank of America from $186.00 to $190.00 in a report issued on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on APO. Wells Fargo & Company lowered their price objective on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Keefe, Bruyette & Woods dropped their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets increased their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. TD Cowen boosted their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Piper Sandler decreased their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $168.26.

Apollo Global Management Price Performance

Shares of APO stock opened at $108.22 on Friday. Apollo Global Management has a 52 week low of $95.11 and a 52 week high of $189.49. The stock has a market capitalization of $61.74 billion, a PE ratio of 14.80, a PEG ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s fifty day moving average is $148.49 and its 200-day moving average is $153.57.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.71%. Apollo Global Management’s dividend payout ratio is 25.31%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APO. Ellevest Inc. lifted its position in Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock valued at $735,000 after acquiring an additional 67 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Apollo Global Management by 2.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 71 shares in the last quarter. Vivaldi Capital Management LP boosted its position in shares of Apollo Global Management by 2.1% during the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock worth $566,000 after buying an additional 71 shares during the period. Tower Wealth Partners Inc. grew its holdings in shares of Apollo Global Management by 4.4% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock worth $288,000 after buying an additional 74 shares in the last quarter. Finally, Sfmg LLC raised its position in Apollo Global Management by 1.1% in the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock valued at $902,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Company Profile

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.