Apollo Global Management (NYSE:APO) Shares Gap Up Following Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO) shares gapped up prior to trading on Monday after TD Cowen raised their price target on the stock from $178.00 to $230.00. The stock had previously closed at $177.85, but opened at $189.30. TD Cowen currently has a buy rating on the stock. Apollo Global Management shares last traded at $184.13, with a volume of 4,037,693 shares.

Other analysts have also issued research reports about the company. StockNews.com upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Argus cut 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. Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Citigroup boosted their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $159.16.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 133,400 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the sale, the insider now owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management in the third quarter valued at approximately $35,000. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management during the 2nd quarter valued at $35,000. Prospera Private Wealth LLC acquired a new stake in shares of Apollo Global Management in the 3rd quarter valued at $80,000. Truvestments Capital LLC acquired a new stake in shares of Apollo Global Management in the 3rd quarter valued at $83,000. Finally, Allworth Financial LP boosted its holdings in Apollo Global Management by 14.3% in the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 91 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

The company’s 50-day simple moving average is $154.41 and its 200 day simple moving average is $129.39. 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 stock has a market capitalization of $97.56 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.84 and a beta of 1.63.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

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.