Apollo Global Management (NYSE:APO) Given New $164.00 Price Target at Wells Fargo & Company

Apollo Global Management (NYSE:APO) had its price objective lifted by Wells Fargo & Company from $149.00 to $164.00 in a research note released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also commented on APO. Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. TD Cowen boosted their price target on Apollo Global Management from $135.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Argus cut their target price on shares of 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Evercore ISI raised their price target on Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.83.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $163.67 on Wednesday. The company’s 50 day moving average is $130.21 and its two-hundred day moving average is $120.07. 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 $93.21 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.55 and a beta of 1.59. Apollo Global Management has a 52-week low of $82.71 and a 52-week high of $166.72.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a $0.463 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 19.72%.

Institutional Investors Weigh In On Apollo Global Management

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in shares of Apollo Global Management during the second quarter worth approximately $35,000. Compagnie Lombard Odier SCmA bought a new position in shares of Apollo Global Management in the 3rd quarter worth $35,000. J.Safra Asset Management Corp grew its stake in shares of Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Apollo Global Management by 293.2% in the second 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 period. Finally, Orion Capital Management LLC boosted its holdings in Apollo Global Management by 20.0% during the first quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after buying an additional 100 shares during the last quarter. 77.06% of the stock is 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.