Wells Fargo & Company Cuts Apollo Global Management (NYSE:APO) Price Target to $191.00

Apollo Global Management (NYSE:APO) had its price target cut by Wells Fargo & Company from $197.00 to $191.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on APO. Wolfe Research began coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target for the company. Evercore ISI increased their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. BMO Capital Markets increased their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Barclays lifted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $164.32.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $165.80 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management has a one year low of $94.34 and a one year high of $189.49. The business’s 50 day simple moving average is $168.97 and its two-hundred day simple moving average is $139.17. The stock has a market capitalization of $93.81 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were given a dividend of $0.463 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.12%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the sale, the insider now directly owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,600 shares of company stock worth $34,186,128. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APO. Crossmark Global Holdings Inc. raised its stake in Apollo Global Management by 8.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 3,820 shares of the financial services provider’s stock valued at $631,000 after buying an additional 311 shares during the last quarter. Overbrook Management Corp bought a new stake in shares of Apollo Global Management in the fourth quarter worth $10,589,000. Zhang Financial LLC increased its position in Apollo Global Management by 3.2% during the fourth quarter. Zhang Financial LLC now owns 18,581 shares of the financial services provider’s stock valued at $3,069,000 after acquiring an additional 568 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Apollo Global Management by 167.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 821 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 514 shares during the period. Finally, Purus Wealth Management LLC boosted its position in Apollo Global Management by 0.7% in the fourth quarter. Purus Wealth Management LLC now owns 25,909 shares of the financial services provider’s stock worth $4,279,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

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.