Wells Fargo & Company Boosts Apollo Global Management (NYSE:APO) Price Target to $148.00

Apollo Global Management (NYSE:APO) had its price objective boosted by Wells Fargo & Company from $132.00 to $148.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Bank of America upgraded Apollo Global Management from a neutral rating to a buy rating and decreased their price target for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. Redburn Atlantic initiated coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a buy rating and a $153.00 target price for the company. StockNews.com lowered shares of Apollo Global Management from a hold rating to a sell rating in a research note on Thursday, August 8th. Argus decreased their price target on shares of Apollo Global Management from $135.00 to $125.00 and set a buy rating for the company in a report on Tuesday, August 20th. Finally, UBS Group boosted their price objective on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a neutral rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $134.78.

Apollo Global Management Trading Up 3.0 %

NYSE APO opened at $135.32 on Wednesday. Apollo Global Management has a 52 week low of $77.11 and a 52 week high of $136.26. The company has a 50 day moving average price of $114.56 and a 200 day moving average price of $114.77. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The firm has a market cap of $76.88 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.30 and a beta of 1.62.

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

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.37%. Apollo Global Management’s payout ratio is currently 20.49%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The trade was a 0.00 % increase in their ownership of the stock. The acquisition 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 Trading of Apollo Global Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Apollo Global Management during the third quarter valued at $543,000. Centaurus Financial Inc. grew its position in Apollo Global Management by 122.2% during the second quarter. Centaurus Financial Inc. now owns 3,571 shares of the financial services provider’s stock valued at $422,000 after buying an additional 1,964 shares during the period. American Trust grew its position in Apollo Global Management by 35.6% during the second quarter. American Trust now owns 2,895 shares of the financial services provider’s stock valued at $342,000 after buying an additional 760 shares during the period. Sanctuary Advisors LLC acquired a new stake in Apollo Global Management during the second quarter valued at $11,107,000. Finally, New Century Financial Group LLC acquired a new stake in Apollo Global Management during the second quarter valued at $347,000. Institutional investors and hedge funds 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, 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.