Citigroup Increases Apollo Global Management (NYSE:APO) Price Target to $170.00

Apollo Global Management (NYSE:APO) had its price target upped by Citigroup from $162.00 to $170.00 in a research note issued to investors on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on APO. Evercore ISI lifted their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley lifted their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Wolfe Research initiated coverage on shares of Apollo Global Management in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price target on the stock. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $124.00 to $123.00 in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $150.83.

Apollo Global Management Stock Up 1.4 %

Apollo Global Management stock opened at $162.04 on Wednesday. The company’s 50-day moving average price is $132.07 and its two-hundred day moving average price is $120.70. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock has a market cap of $92.29 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.53 and a beta of 1.59. Apollo Global Management has a twelve month low of $83.88 and a twelve month high of $166.72.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Hedge Funds Weigh In On Apollo Global Management

Institutional investors have recently added to or reduced their stakes in the stock. Chicago Capital LLC grew its stake in shares of Apollo Global Management by 1.2% during the third quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock worth $709,000 after buying an additional 69 shares during the last quarter. Cyndeo Wealth Partners LLC grew its position in Apollo Global Management by 3.0% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 77 shares during the last quarter. Cigna Investments Inc. New increased its holdings in Apollo Global Management by 1.8% in the 3rd quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 90 shares in the last quarter. Allworth Financial LP raised its position in Apollo Global Management by 14.3% in the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 91 shares during the last quarter. Finally, FineMark National Bank & Trust boosted its stake in shares of Apollo Global Management by 2.4% during the second quarter. FineMark National Bank & Trust now owns 4,117 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 98 shares in the last quarter. 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.