Apollo Global Management (NYSE:APO) PT Raised to $137.00 at Morgan Stanley

Apollo Global Management (NYSE:APO) had its price target increased by Morgan Stanley from $111.00 to $137.00 in a report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on APO. Keefe, Bruyette & Woods increased their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an outperform rating in a report on Friday, July 12th. TD Cowen lifted their price objective on shares of Apollo Global Management from $135.00 to $162.00 and gave the company a buy rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. increased their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an overweight rating in a research note on Wednesday, October 2nd. Wolfe Research started coverage on Apollo Global Management in a research report on Wednesday, September 25th. They issued an outperform rating and a $139.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on Apollo Global Management from $148.00 to $149.00 and gave the stock an overweight rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $138.06.

Apollo Global Management Trading Up 1.7 %

Shares of Apollo Global Management stock opened at $140.21 on Thursday. The company has a fifty day simple moving average of $116.77 and a 200-day simple moving average of $115.83. Apollo Global Management has a 12-month low of $77.11 and a 12-month high of $140.35. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock has a market cap of $79.66 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.39 and a beta of 1.62.

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 (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period in the previous year, the business posted $1.54 EPS. On average, equities analysts forecast that Apollo Global Management will post 6.66 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.32%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity

In other news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the purchase, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APO. Cullen Frost Bankers Inc. acquired a new stake in Apollo Global Management in the 2nd quarter valued at about $35,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Apollo Global Management in the third quarter valued at approximately $35,000. J.Safra Asset Management Corp increased its stake in shares of Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Apollo Global Management during the 1st quarter worth approximately $45,000. Finally, Compass Wealth Management LLC lifted its stake in Apollo Global Management by 48.7% in the 1st quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock valued at $50,000 after buying an additional 146 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.