Apollo Global Management (NYSE:APO) Price Target Raised to $79.00 at Barclays

Apollo Global Management (NYSE:APO – Get Rating) had its price target increased by Barclays from $74.00 to $79.00 in a research report sent to investors on Monday, The Fly reports.

APO has been the subject of a number of other research reports. TheStreet raised shares of Apollo Global Management from a d+ rating to a c rating in a report on Thursday, February 9th. Wells Fargo & Company lifted their price objective on shares of Apollo Global Management from $74.00 to $79.00 and gave the company an overweight rating in a report on Friday, February 10th. StockNews.com raised shares of Apollo Global Management from a sell rating to a hold rating in a report on Thursday, May 11th. Oppenheimer lifted their price objective on shares of Apollo Global Management from $73.00 to $79.00 and gave the company an outperform rating in a report on Thursday, April 13th. Finally, Morgan Stanley cut their price objective on shares of Apollo Global Management from $69.00 to $68.00 and set an equal weight rating for the company in a report on Monday, February 13th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $73.61.

Apollo Global Management Price Performance

Shares of APO opened at $63.18 on Monday. The company has a market cap of $36.05 billion, a price-to-earnings ratio of -26.11, a price-to-earnings-growth ratio of 0.66 and a beta of 1.68. Apollo Global Management has a twelve month low of $45.62 and a twelve month high of $74.63. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The company has a 50 day moving average of $61.99 and a two-hundred day moving average of $64.90.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Monday, May 22nd will be given a dividend of $0.43 per share. The ex-dividend date is Friday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a yield of 2.72%. Apollo Global Management’s payout ratio is presently -71.07%.

Insider Buying and Selling

In other Apollo Global Management news, insider Joshua Harris sold 43,431 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $63.91, for a total value of $2,775,675.21. Following the transaction, the insider now directly owns 35,011,441 shares in the company, valued at approximately $2,237,581,194.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joshua Harris sold 43,431 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $63.91, for a total value of $2,775,675.21. Following the transaction, the insider now directly owns 35,011,441 shares in the company, valued at approximately $2,237,581,194.31. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $70.11, for a total transaction of $1,051,650.00. Following the sale, the chief financial officer now owns 425,120 shares in the company, valued at $29,805,163.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,079,121 shares of company stock worth $69,362,134. 15.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds have recently added to or reduced their stakes in APO. Parkside Financial Bank & Trust raised its holdings in shares of Apollo Global Management by 7,183.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 431 shares in the last quarter. MADDEN SECURITIES Corp acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at $30,000. Zions Bancorporation N.A. acquired a new stake in shares of Apollo Global Management in the 1st quarter valued at $30,000. Ronald Blue Trust Inc. raised its holdings in shares of Apollo Global Management by 274.8% in the 1st quarter. Ronald Blue Trust Inc. now owns 491 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 360 shares in the last quarter. Finally, Close Asset Management Ltd acquired a new stake in shares of Apollo Global Management in the 1st quarter valued at $32,000. 68.98% of the stock is currently owned by institutional investors and hedge funds.

About Apollo Global Management

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Apollo Global Management, Inc provides asset management services. It offers its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. The company was founded by Marc Rowan in 1990 and is headquartered in New York, NY.