BMO Capital Markets Forecasts Strong Price Appreciation for Apollo Global Management (NYSE:APO) Stock

Apollo Global Management (NYSE:APO) had its price target upped by BMO Capital Markets from $157.00 to $186.00 in a research note released on Thursday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. Wolfe Research initiated coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 target price on the stock. Redburn Atlantic assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price for the company. UBS Group raised Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company raised their target price on shares of Apollo Global Management from $164.00 to $197.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

Apollo Global Management Stock Up 0.8 %

Apollo Global Management stock opened at $171.03 on Thursday. The firm has a 50 day simple moving average of $161.44 and a 200 day simple moving average of $132.87. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management has a 1-year low of $89.76 and a 1-year high of $189.49. The firm has a market capitalization of $96.77 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.84 and a beta of 1.63.

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 issued a $0.463 dividend. This is a boost 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 (DPR) is currently 19.33%.

Insider Buying and Selling

In related news, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the sale, the insider now directly owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock valued at $34,186,128 over the last three months. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

A number of large investors have recently made changes to their positions in APO. Wilmington Savings Fund Society FSB purchased a new stake in shares of Apollo Global Management in the 3rd quarter worth about $503,000. Sfmg LLC boosted its position in shares of Apollo Global Management by 1.1% during the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock valued at $902,000 after purchasing an additional 79 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of Apollo Global Management by 1.8% during the third quarter. World Investment Advisors LLC now owns 6,823 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 119 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Apollo Global Management by 11.5% in the third quarter. Sanctuary Advisors LLC now owns 110,347 shares of the financial services provider’s stock worth $13,783,000 after purchasing an additional 11,370 shares in the last quarter. Finally, Unigestion Holding SA purchased a new position in Apollo Global Management during the 3rd quarter valued at about $609,000. 77.06% of the stock is currently owned by institutional investors.

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.