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

Apollo Global Management (NYSE:APO) had its price target hoisted by Morgan Stanley from $169.00 to $170.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other analysts have also commented on the company. BMO Capital Markets increased their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Piper Sandler increased their price objective on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Evercore ISI increased their price objective on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Finally, UBS Group upgraded Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Stock Up 0.5 %

Apollo Global Management stock opened at $158.28 on Tuesday. The business has a fifty day moving average of $167.93 and a two-hundred day moving average of $145.67. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $89.56 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.28 and a beta of 1.63. Apollo Global Management has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon D. Black sold 58,200 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,600 shares of company stock valued at $34,186,128. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors have recently modified their holdings of the business. Partners Group Holding AG grew its position in shares of Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock valued at $96,896,000 after acquiring an additional 162,678 shares during the period. Swedbank AB lifted its stake in Apollo Global Management by 50.9% in the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after buying an additional 26,300 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in Apollo Global Management in the 4th quarter valued at about $3,994,000. Ameritas Advisory Services LLC purchased a new position in Apollo Global Management in the 4th quarter valued at about $648,000. Finally, Advisors Asset Management Inc. lifted its stake in Apollo Global Management by 34.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock valued at $2,428,000 after buying an additional 4,941 shares in the last quarter. 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.