Apollo Global Management (NYSE:APO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Apollo Global Management (NYSE:APO) had its target price hoisted by Piper Sandler from $188.00 to $202.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts also recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays upped their price objective on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Redburn Partners began coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $164.00 to $197.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.63.

Apollo Global Management Trading Up 0.8 %

NYSE APO opened at $171.03 on Wednesday. Apollo Global Management has a one year low of $89.76 and a one year high of $189.49. 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 firm has a market cap of $96.77 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.84 and a beta of 1.63. The stock’s 50-day moving average is $160.82 and its 200-day moving average is $132.49.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.08%. Apollo Global Management’s dividend payout ratio is presently 19.33%.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,600 shares of company stock worth $34,186,128. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after buying an additional 254,268 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Apollo Global Management by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after acquiring an additional 126,859 shares during the period. TD Asset Management Inc grew its holdings in shares of Apollo Global Management by 3.8% during the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock worth $318,522,000 after purchasing an additional 97,797 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Apollo Global Management by 0.4% in the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after purchasing an additional 4,892 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.