Apollo Global Management (NYSE:APO) Stock Price Expected to Rise, Evercore ISI Analyst Says

Apollo Global Management (NYSE:APO) had its price target increased by Evercore ISI from $150.00 to $174.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

APO has been the subject of several other research reports. Wells Fargo & Company lifted their price objective on Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays raised their price target on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Argus lowered their target price on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lifted their target price on shares of Apollo Global Management from $138.00 to $157.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.83.

Apollo Global Management Stock Performance

NYSE APO opened at $162.00 on Wednesday. The company’s 50 day simple moving average is $132.07 and its two-hundred day simple moving average is $120.75. The stock has a market capitalization of $92.26 billion, a PE ratio of 16.93, a P/E/G ratio of 1.80 and a beta of 1.59. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management has a 1 year low of $83.88 and a 1 year high of $166.72.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.463 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.14%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 19.33%.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. bought a new stake in Apollo Global Management in the second quarter valued at approximately $35,000. Compagnie Lombard Odier SCmA bought a new position in shares of Apollo Global Management in the third quarter worth approximately $35,000. J.Safra Asset Management Corp increased its stake in shares of Apollo Global Management by 709.3% in the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Apollo Global Management by 293.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after buying an additional 346 shares during the last quarter. Finally, Orion Capital Management LLC boosted its position in Apollo Global Management by 20.0% during the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock valued at $67,000 after buying an additional 100 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.