UBS Group Increases Apollo Global Management (NYSE:APO) Price Target to $150.00

Apollo Global Management (NYSE:APO) had its price objective hoisted by UBS Group from $117.00 to $150.00 in a research note released on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on APO. Deutsche Bank Aktiengesellschaft reduced their price target on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their price target for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. Redburn Atlantic assumed coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Finally, Barclays increased their price target on shares of Apollo Global Management from $128.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.56.

Apollo Global Management Stock Down 2.2 %

APO stock opened at $143.09 on Tuesday. Apollo Global Management has a fifty-two week low of $77.11 and a fifty-two week high of $146.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $81.30 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.39 and a beta of 1.62. The business’s fifty day moving average price is $124.54 and its two-hundred day moving average price is $117.94.

Apollo Global Management (NYSE:APO) last released 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). 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 the consensus estimate of $873.18 million. During the same period in the prior year, the business posted $1.54 earnings per share. On average, equities analysts anticipate that Apollo Global Management will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its position in Apollo Global Management by 193.3% during the 1st quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock worth $5,755,000 after purchasing an additional 33,731 shares during the last quarter. Diversified Trust Co bought a new position in shares of Apollo Global Management during the first quarter worth about $1,731,000. Jennison Associates LLC lifted its stake in shares of Apollo Global Management by 199.8% in the first quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock worth $104,041,000 after acquiring an additional 616,575 shares during the period. PGGM Investments bought a new stake in Apollo Global Management in the first quarter valued at approximately $840,000. Finally, Tempus Wealth Planning LLC bought a new position in Apollo Global Management during the 1st quarter worth approximately $877,000. 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.