Apollo Global Management (NYSE:APO) Stock Gets Price Target Cut from Piper Sandler

Apollo Global Management (NYSE:APO) had its price objective reduced by Piper Sandler from $159.00 to $145.00 in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company began coverage on Apollo Global Management in a research report on Friday, October 2nd. They set an “equal weight” rating and a $127.00 price target for the company. BMO Capital Markets boosted their price objective on Apollo Global Management from $126.00 to $134.00 and gave the company a “market perform” rating in a report on Monday, August 10th. Weiss Ratings upgraded Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Bank of America dropped their target price on Apollo Global Management from $163.00 to $161.00 in a research report on Monday, October 5th. Finally, UBS Group cut their price target on shares of Apollo Global Management from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $151.90.

Apollo Global Management Stock Performance

NYSE:APO opened at $111.76 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $66.00 billion, a P/E ratio of 40.94, a PEG ratio of 1.02 and a beta of 1.58. The company has a 50 day moving average price of $125.24 and a 200 day moving average price of $125.26. Apollo Global Management has a fifty-two week low of $99.56 and a fifty-two week high of $153.29.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter last year, the business posted $1.92 EPS. Equities research analysts forecast that Apollo Global Management will post 7.97 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Several large investors have recently bought and sold shares of APO. Obermeyer Wealth Partners lifted its holdings in Apollo Global Management by 4,290.0% during the 3rd quarter. Obermeyer Wealth Partners now owns 138,198 shares of the financial services provider’s stock worth $16,039,000 after buying an additional 135,050 shares during the last quarter. Eagle Rock Investment Company LLC increased its holdings in shares of Apollo Global Management by 8.5% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 57,652 shares of the financial services provider’s stock valued at $6,612,000 after acquiring an additional 4,511 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Apollo Global Management by 83.9% in the 3rd quarter. Axxcess Wealth Management LLC now owns 29,833 shares of the financial services provider’s stock valued at $3,188,000 after acquiring an additional 13,613 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Apollo Global Management by 311.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 64,941 shares of the financial services provider’s stock worth $7,537,000 after acquiring an additional 49,148 shares in the last quarter. Finally, Sowell Financial Services LLC raised its position in shares of Apollo Global Management by 2,040.9% during the 3rd quarter. Sowell Financial Services LLC now owns 77,009 shares of the financial services provider’s stock worth $8,938,000 after acquiring an additional 73,412 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.