Apollo Global Management (NYSE:APO) Price Target Raised to $154.00

Apollo Global Management (NYSE:APO) had its price objective increased by JPMorgan Chase & Co. from $150.00 to $154.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Piper Sandler decreased their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Keefe, Bruyette & Woods upgraded Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. Finally, Morgan Stanley dropped their target price on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.15.

Apollo Global Management Stock Down 0.6%

APO opened at $133.65 on Wednesday. The company has a market capitalization of $78.93 billion, a P/E ratio of 48.96, a P/E/G ratio of 1.18 and a beta of 1.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The firm’s fifty day moving average price is $127.03 and its two-hundred day moving average price is $123.05. 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 announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The business 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 in the prior year, the company posted $1.92 EPS. On average, analysts anticipate that Apollo Global Management will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

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 dividend of $0.5625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. 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 that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors have recently bought and sold shares of APO. California State Teachers Retirement System lifted its position in Apollo Global Management by 11,307.3% during the 2nd quarter. California State Teachers Retirement System now owns 73,430,521 shares of the financial services provider’s stock worth $8,687,565,000 after buying an additional 72,786,808 shares in the last quarter. Legal & General Group Plc acquired a new stake in Apollo Global Management in the 2nd quarter valued at about $459,987,000. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management in the 2nd quarter valued at about $336,644,000. Boston Partners raised its stake in shares of Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after acquiring an additional 1,692,532 shares during the last quarter. Finally, Temasek Holdings Private Ltd raised its stake in shares of Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after acquiring an additional 1,614,813 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.