The Goldman Sachs Group Raises Apollo Global Management (NYSE:APO) Price Target to $135.00

Apollo Global Management (NYSE:APO) had its target price lifted by The Goldman Sachs Group from $128.00 to $135.00 in a research report sent to investors on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Apollo Global Management from $132.00 to $148.00 and gave the stock an overweight rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an overweight rating in a research note on Wednesday. Redburn Atlantic assumed coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They set a buy rating and a $153.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Apollo Global Management from $129.00 to $124.00 and set a buy rating on the stock in a report on Thursday, August 15th. Finally, Argus reduced their price target on Apollo Global Management from $135.00 to $125.00 and set a buy rating for the company in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Apollo Global Management currently has an average rating of Moderate Buy and a consensus price target of $134.78.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $135.33 on Thursday. The firm has a market capitalization of $76.89 billion, a PE ratio of 14.99, a P/E/G ratio of 1.30 and a beta of 1.62. 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 $77.11 and a 1-year high of $136.26. The business’s fifty day moving average price is $114.83 and its two-hundred day moving average price is $114.95.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same period last year, the business posted $1.54 earnings per share. On average, research analysts expect that Apollo Global Management will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.37%. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Insiders Place Their Bets

In related news, Director Pauline Richards acquired 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Several hedge funds have recently bought and sold shares of APO. Curated Wealth Partners LLC lifted its position in Apollo Global Management by 200.3% during the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock worth $278,945,000 after acquiring an additional 4,717,661 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Apollo Global Management by 40.3% during the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after purchasing an additional 1,360,525 shares during the period. Third Point LLC bought a new position in shares of Apollo Global Management during the fourth quarter worth approximately $83,871,000. Vanguard Group Inc. increased its holdings in shares of Apollo Global Management by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Apollo Global Management by 199.8% during the first quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock worth $104,041,000 after purchasing an additional 616,575 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Company Profile

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.