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

Apollo Global Management (NYSE:APO) had its price target cut by Barclays from $133.00 to $131.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages also recently commented on APO. Wells Fargo & Company increased their price target on Apollo Global Management from $110.00 to $118.00 and gave the company an overweight rating in a report on Friday, February 9th. TD Cowen started coverage on shares of Apollo Global Management in a report on Thursday, January 4th. They set an outperform rating and a $115.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Apollo Global Management from $122.00 to $123.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. Citigroup increased their target price on Apollo Global Management from $111.00 to $125.00 and gave the company a buy rating in a research note on Tuesday, February 13th. Finally, Morgan Stanley raised their target price on Apollo Global Management from $94.00 to $99.00 and gave the company an equal weight rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $114.31.

Apollo Global Management Stock Down 2.3 %

APO stock opened at $109.46 on Friday. The firm has a market cap of $62.19 billion, a PE ratio of 12.12, a PEG ratio of 0.92 and a beta of 1.61. Apollo Global Management has a 1 year low of $57.50 and a 1 year high of $117.15. The company has a fifty day simple moving average of $111.11 and a 200 day simple moving average of $100.05. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results 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 company had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. Sell-side analysts anticipate that Apollo Global Management will post 7.43 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

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

Insider Activity

In other news, insider James C. Zelter sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the sale, the insider now directly owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider James C. Zelter sold 150,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the sale, the insider now owns 1,454,588 shares of the company’s stock, valued at approximately $158,782,826.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Whitney Chatterjee sold 12,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total value of $1,333,200.00. Following the transaction, the insider now owns 123,901 shares of the company’s stock, valued at $13,765,401.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,426,000 shares of company stock worth $158,226,960. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Apollo Global Management in the fourth quarter worth $586,016,000. TD Asset Management Inc lifted its position in Apollo Global Management by 4,248.9% during the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock worth $229,176,000 after buying an additional 2,402,686 shares in the last quarter. FMR LLC grew its holdings in Apollo Global Management by 18.9% during the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock worth $892,973,000 after acquiring an additional 1,584,201 shares during the last quarter. PointState Capital LP acquired a new stake in Apollo Global Management in the 3rd quarter valued at about $98,382,000. Finally, Third Point LLC bought a new position in shares of Apollo Global Management in the fourth quarter worth about $83,871,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.