Apollo Global Management (NYSE:APO) Shares Gap Up After Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO)’s stock price gapped up prior to trading on Monday after TD Cowen raised their price target on the stock from $178.00 to $230.00. The stock had previously closed at $177.85, but opened at $189.30. TD Cowen currently has a buy rating on the stock. Apollo Global Management shares last traded at $184.13, with a volume of 4,037,693 shares changing hands.

Several other research firms have also recently issued reports on APO. Morgan Stanley raised their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. BMO Capital Markets raised their price target on Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Redburn Partners initiated coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target for the company. Wolfe Research initiated coverage on Apollo Global Management in a research report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target for the company. Finally, Piper Sandler initiated coverage on Apollo Global Management in a research report on Tuesday, November 19th. They set an “overweight” rating and a $188.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.16.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares of the company’s stock, valued at $55,332,552.04. The trade was a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,600 shares of company stock valued at $34,186,128. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors have recently modified their holdings of the company. Partners Group Holding AG boosted its stake in shares of Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after acquiring an additional 162,678 shares in the last quarter. Swedbank AB lifted its stake in Apollo Global Management by 50.9% in the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after buying an additional 26,300 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Apollo Global Management by 34.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock valued at $2,428,000 after buying an additional 4,941 shares in the last quarter. Swiss National Bank lifted its stake in Apollo Global Management by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares in the last quarter. Finally, MSA Advisors LLC lifted its stake in Apollo Global Management by 8.2% in the 3rd quarter. MSA Advisors LLC now owns 876,702 shares of the financial services provider’s stock valued at $109,509,000 after buying an additional 66,600 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 1.3 %

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $155.27 and a 200-day moving average of $129.81. The stock has a market cap of $98.90 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a $0.463 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.06%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is presently 19.33%.

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.