Wells Fargo & Company Cuts Apollo Global Management (NYSE:APO) Price Target to $177.00

Apollo Global Management (NYSE:APO) had its target price lowered by Wells Fargo & Company from $187.00 to $177.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on APO. Keefe, Bruyette & Woods reduced their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Barclays lifted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Piper Sandler increased their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley raised their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, BMO Capital Markets upped their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.21.

Apollo Global Management Price Performance

NYSE:APO opened at $143.53 on Thursday. The firm’s fifty day moving average is $154.31 and its two-hundred day moving average is $152.02. The firm has a market cap of $81.88 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management has a one year low of $95.11 and a one year high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.29%. Apollo Global Management’s payout ratio is presently 25.31%.

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 dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Institutional Trading of Apollo Global Management

Several hedge funds have recently made changes to their positions in APO. Ellevest Inc. lifted its holdings in Apollo Global Management by 1.5% in the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock valued at $735,000 after acquiring an additional 67 shares during the last quarter. Menard Financial Group LLC lifted its stake in shares of Apollo Global Management by 1.2% in the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 71 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Apollo Global Management by 2.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 71 shares during the period. Vivaldi Capital Management LP increased its position in shares of Apollo Global Management by 2.1% during the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 71 shares during the last quarter. Finally, Tower Wealth Partners Inc. raised its holdings in Apollo Global Management by 4.4% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.