Barclays Lowers Apollo Global Management (NYSE:APO) Price Target to $131.00

Apollo Global Management (NYSE:APO) had its price target lowered by Barclays from $133.00 to $131.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research firms have also weighed in on APO. Morgan Stanley lifted their price objective on shares of Apollo Global Management from $94.00 to $99.00 and gave the company an equal weight rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an overweight rating in a report on Wednesday, April 24th. TD Cowen began coverage on Apollo Global Management in a research note on Thursday, January 4th. They issued an outperform rating and a $115.00 target price for the company. Wells Fargo & Company boosted their target price on Apollo Global Management from $110.00 to $118.00 and gave the company an overweight rating in a research report on Friday, February 9th. Finally, Keefe, Bruyette & Woods increased their price target on Apollo Global Management from $122.00 to $131.00 and gave the stock an outperform rating in a report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Apollo Global Management presently has a consensus rating of Moderate Buy and a consensus price target of $114.31.

Apollo Global Management Stock Performance

Shares of APO opened at $109.46 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $111.11 and its two-hundred day simple moving average is $100.05. Apollo Global Management has a 12 month low of $57.50 and a 12 month high of $117.15. The stock has a market capitalization of $62.19 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 0.92 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $823.27 million. As a group, analysts predict that Apollo Global Management will post 7.43 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.463 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is 19.05%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 450,000 shares of Apollo Global Management stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the sale, the insider now owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Leon D. Black sold 450,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the completion of the transaction, the insider now owns 42,604,773 shares in the company, valued at approximately $4,716,774,418.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 14,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.09, for a total value of $1,527,260.00. Following the completion of the sale, the chief financial officer now owns 366,572 shares in the company, valued at $39,989,339.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,426,000 shares of company stock worth $158,226,960. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its stake in shares of Apollo Global Management by 55.3% during the 3rd quarter. SG Americas Securities LLC now owns 9,587 shares of the financial services provider’s stock valued at $861,000 after purchasing an additional 3,415 shares during the period. SVB Wealth LLC lifted its holdings in shares of Apollo Global Management by 3.1% in the third quarter. SVB Wealth LLC now owns 5,647 shares of the financial services provider’s stock worth $507,000 after buying an additional 171 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Apollo Global Management by 3.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 35,215 shares of the financial services provider’s stock valued at $3,161,000 after acquiring an additional 1,334 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Apollo Global Management by 174.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 186,586 shares of the financial services provider’s stock valued at $16,748,000 after acquiring an additional 118,587 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Apollo Global Management by 2.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 95,478 shares of the financial services provider’s stock valued at $8,570,000 after acquiring an additional 1,860 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.