JPMorgan Chase & Co. Raises Apollo Global Management (NYSE:APO) Price Target to $123.00

Apollo Global Management (NYSE:APO) had its target price lifted by JPMorgan Chase & Co. from $122.00 to $123.00 in a report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets upped their price target on Apollo Global Management from $111.00 to $122.00 and gave the stock an outperform rating in a research note on Friday, April 5th. Barclays upped their price target on Apollo Global Management from $122.00 to $133.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Morgan Stanley upped their price target on Apollo Global Management from $94.00 to $99.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. TD Cowen assumed coverage on Apollo Global Management in a research note on Thursday, January 4th. They issued an outperform rating and a $115.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $122.00 to $131.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $113.33.

Apollo Global Management Price Performance

Shares of APO stock opened at $112.19 on Wednesday. The firm has a market cap of $63.74 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.94 and a beta of 1.63. Apollo Global Management has a fifty-two week low of $57.50 and a fifty-two week high of $117.15. The business’s 50 day moving average price is $111.23 and its 200-day moving average price is $99.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $823.27 million. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. On average, equities research analysts anticipate that Apollo Global Management will post 7.44 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, February 16th. Apollo Global Management’s dividend payout ratio (DPR) is 20.45%.

Insider Activity

In other news, CFO Martin Kelly sold 14,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at $39,989,339.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Whitney Chatterjee sold 12,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total transaction of $1,333,200.00. Following the transaction, the insider now directly owns 123,901 shares of the company’s stock, valued at $13,765,401.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 14,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The disclosure for this sale can be found here. Insiders have sold a total of 1,426,000 shares of company stock valued at $158,226,960 over the last ninety days. 8.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Apollo Global Management

A number of hedge funds have recently bought and sold shares of APO. Norges Bank purchased a new stake in Apollo Global Management during the fourth quarter valued at $586,016,000. TD Asset Management Inc increased its position in Apollo Global Management by 4,248.9% during the fourth quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after acquiring an additional 2,402,686 shares during the last quarter. FMR LLC increased its position in Apollo Global Management by 18.9% during the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after acquiring an additional 1,584,201 shares during the last quarter. PointState Capital LP purchased a new stake in Apollo Global Management during the third quarter valued at $98,382,000. Finally, Third Point LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at $83,871,000. Hedge funds and other 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 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.