Apollo Global Management (NYSE:APO) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Apollo Global Management (NYSE:APO) in a research note issued to investors on Thursday, Marketbeat reports. The firm issued an overweight rating and a $132.00 target price on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut Apollo Global Management from a hold rating to a sell rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an outperform rating in a research report on Friday, July 12th. Redburn Atlantic initiated coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a buy rating and a $153.00 price objective on the stock. UBS Group raised their target price on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a neutral rating in a research report on Wednesday, July 10th. Finally, Bank of America raised Apollo Global Management from a neutral rating to a buy rating and dropped their target price for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Apollo Global Management has a consensus rating of Moderate Buy and a consensus target price of $129.06.

Apollo Global Management Trading Up 1.8 %

APO 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. Apollo Global Management has a 1-year low of $77.11 and a 1-year high of $126.45. The business has a 50 day simple moving average of $113.54 and a two-hundred day simple moving average of $113.39. The company has a market capitalization of $65.15 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.13 and a beta of 1.61.

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

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given 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 dividend payout ratio is currently 20.49%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

Institutional investors have recently modified their holdings of the stock. DSM Capital Partners LLC acquired a new stake in Apollo Global Management during the fourth quarter worth about $31,000. True Wealth Design LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $33,000. Cullen Frost Bankers Inc. purchased a new position in shares of Apollo Global Management during the 2nd quarter valued at approximately $35,000. Carolinas Wealth Consulting LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $38,000. Finally, J.Safra Asset Management Corp boosted its holdings in Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares in the last quarter. 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.