Apollo Global Management Inc. (NYSE:APO) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst sentiment is moderately bullish: Twenty brokerages rate Apollo Global Management “Moderate Buy,” including 14 buy ratings and six holds. The consensus 12-month price target is $153.05.
• Institutional ownership is substantial: Institutional investors and hedge funds own 77.06% of APO, with several major firms—including Legal & General, Bank of New York Mellon, and Temasek—recently increasing or initiating positions.
• Recent results fell slightly short of expectations: Apollo reported quarterly EPS of $2.11 versus the $2.16 consensus and revenue of $5.57 billion versus estimates of $5.65 billion. The company also declared a quarterly dividend of $0.5625, implying a 1.9% yield.

Apollo Global Management Inc. (NYSE:APO - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $153.05.

A number of research firms have recently weighed in on APO. JPMorgan Chase & Co. raised their price objective on Apollo Global Management from $150.00 to $154.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 2nd. Piper Sandler upped their target price on Apollo Global Management from $156.00 to $159.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Jefferies Financial Group decreased their price target on Apollo Global Management from $138.00 to $127.00 and set a "hold" rating for the company in a research note on Tuesday, October 6th. UBS Group raised their price target on Apollo Global Management from $157.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their price target on Apollo Global Management from $137.00 to $146.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APO. Legal & General Group Plc acquired a new stake in shares of Apollo Global Management during the second quarter worth about $459,987,000. Bank of New York Mellon Corp purchased a new stake in Apollo Global Management in the second quarter valued at approximately $336,644,000. Temasek Holdings Private Ltd boosted its position in Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock valued at $263,861,000 after buying an additional 1,614,813 shares during the last quarter. Deutsche Bank AG acquired a new position in Apollo Global Management in the 2nd quarter worth approximately $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Apollo Global Management in the 2nd quarter worth approximately $136,528,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Price Performance

Shares of APO opened at $119.24 on Tuesday. The company has a 50 day moving average of $128.06 and a two-hundred day moving average of $125.12. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management has a twelve month low of $99.56 and a twelve month high of $153.29. The company has a market cap of $70.41 billion, a price-to-earnings ratio of 43.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the company posted $1.92 earnings per share. As a group, analysts predict that Apollo Global Management will post 8.00 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were given a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.

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