Apollo Global Management (NYSE:APO) Price Target Raised to $196.00

Apollo Global Management (NYSE:APO) had its price target raised by Keefe, Bruyette & Woods from $168.00 to $196.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on APO. Piper Sandler boosted their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their price target on Apollo Global Management from $164.00 to $197.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Redburn Partners assumed 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

Apollo Global Management Price Performance

Shares of APO opened at $171.03 on Friday. The stock has a 50 day simple moving average of $161.44 and a 200 day simple moving average of $133.00. Apollo Global Management has a 52-week low of $89.76 and a 52-week 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. The firm has a market capitalization of $96.77 billion, a PE ratio of 17.87, a P/E/G ratio of 1.84 and a beta of 1.63.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a dividend of $0.463 per share. The ex-dividend date was Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.08%. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction that occurred on 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 completion of the sale, the insider now owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,600 shares of company stock valued at $34,186,128. 8.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

A number of hedge funds have recently added to or reduced their stakes in APO. Chicago Capital LLC raised its position in shares of Apollo Global Management by 1.2% in the 3rd quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock valued at $709,000 after buying an additional 69 shares in the last quarter. Menard Financial Group LLC increased its stake in Apollo Global Management by 1.2% in the third quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 71 shares during the last quarter. Cyndeo Wealth Partners LLC raised its position in Apollo Global Management by 3.0% during the third quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 77 shares in the last quarter. Sfmg LLC lifted its stake in Apollo Global Management by 1.1% during the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after purchasing an additional 79 shares during the last quarter. Finally, Cigna Investments Inc. New lifted its stake in Apollo Global Management by 1.8% during the third quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 90 shares during the last quarter. 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.