Piper Sandler Initiates Coverage on Apollo Global Management (NYSE:APO)

Piper Sandler started coverage on shares of Apollo Global Management (NYSE:APO) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $188.00 price objective on the financial services provider’s stock.

APO has been the topic of a number of other research reports. UBS Group raised Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted their target price on Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Redburn Atlantic assumed coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. TD Cowen lifted their price target on shares of Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Apollo Global Management from $159.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.05.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $165.02 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s fifty day moving average price is $141.96 and its two-hundred day moving average price is $124.06. Apollo Global Management has a one year low of $88.18 and a one year high of $169.15. The firm has a market cap of $93.37 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.74 and a beta of 1.59.

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 a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.12%. Apollo Global Management’s dividend payout ratio is presently 19.33%.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new position in Apollo Global Management during the 2nd quarter worth approximately $35,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Apollo Global Management during the third quarter worth $35,000. Massmutual Trust Co. FSB ADV raised its stake in Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after buying an additional 346 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Apollo Global Management in the third quarter valued at $80,000. Finally, Mather Group LLC. boosted its position in Apollo Global Management by 826.9% during the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 645 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

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.