Apollo Global Management (NYSE:APO) Price Target Raised to $170.00

Apollo Global Management (NYSE:APO - Free Report) had its price objective hoisted by Citigroup from $160.00 to $170.00 in a research report released on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the financial services provider's stock.

Other equities analysts have also issued reports about the stock. Raymond James Financial began coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Barclays boosted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday. UBS Group lowered their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, TD Cowen decreased their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus price target of $161.00.

Apollo Global Management Price Performance

APO traded down $0.70 during midday trading on Thursday, hitting $147.51. 617,211 shares of the company traded hands, compared to its average volume of 3,721,161. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $84.30 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.52 and a beta of 1.59. Apollo Global Management has a 52-week low of $95.11 and a 52-week high of $189.49. The business has a 50 day simple moving average of $136.78 and a two-hundred day simple moving average of $144.25.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business's revenue was down 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 earnings per share. On average, equities analysts forecast that Apollo Global Management will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.51 dividend. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management's dividend payout ratio is currently 35.73%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the transaction, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On Apollo Global Management

Several large investors have recently added to or reduced their stakes in APO. PNC Financial Services Group Inc. increased its position in shares of Apollo Global Management by 6.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 34,461 shares of the financial services provider's stock valued at $5,692,000 after purchasing an additional 2,069 shares during the last quarter. Independent Advisor Alliance increased its position in shares of Apollo Global Management by 78.0% in the 4th quarter. Independent Advisor Alliance now owns 3,438 shares of the financial services provider's stock valued at $568,000 after purchasing an additional 1,506 shares during the last quarter. Sage Mountain Advisors LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $206,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $304,000. Finally, Sequoia Financial Advisors LLC increased its position in shares of Apollo Global Management by 49.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 43,169 shares of the financial services provider's stock valued at $7,130,000 after purchasing an additional 14,191 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.