Apollo Global Management (NYSE:APO) PT Lowered to $131.00

Apollo Global Management (NYSE:APO - Free Report) had its target price reduced by Barclays from $133.00 to $131.00 in a report issued on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the financial services provider's stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company boosted their price target on Apollo Global Management from $110.00 to $118.00 and gave the company an overweight rating in a report on Friday, February 9th. Citigroup increased their target price on Apollo Global Management from $111.00 to $125.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. raised their price target on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an overweight rating in a research report on Wednesday, April 24th. JMP Securities restated a market perform rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Finally, Morgan Stanley lifted their price target on shares of Apollo Global Management from $94.00 to $99.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $114.31.

Apollo Global Management Trading Down 2.3 %

NYSE APO traded down $2.60 during trading on Friday, hitting $109.47. 3,300,741 shares of the company's stock traded hands, compared to its average volume of 2,358,690. The stock has a fifty day moving average of $111.15 and a two-hundred day moving average of $99.81. Apollo Global Management has a 12-month low of $57.50 and a 12-month high of $117.15. The firm has a market cap of $62.20 billion, a P/E ratio of 13.02, a PEG ratio of 0.90 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.54 and a quick ratio of 1.54.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. The business had revenue of $795.00 million for the quarter, compared to analyst estimates of $823.27 million. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. As a group, sell-side analysts expect that Apollo Global Management will post 7.43 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.463 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.43. Apollo Global Management's dividend payout ratio is presently 20.45%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 300,000 shares of the stock in a transaction dated Saturday, February 24th. The stock was sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the sale, the insider now directly owns 43,054,773 shares of the company's stock, valued at approximately $4,801,037,737.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Leon D. Black sold 450,000 shares of Apollo Global Management stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now owns 42,604,773 shares in the company, valued at approximately $4,716,774,418.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 300,000 shares of the firm's stock in a transaction that occurred on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total value of $33,453,000.00. Following the completion of the sale, the insider now directly owns 43,054,773 shares in the company, valued at $4,801,037,737.23. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock worth $158,226,960 over the last three months. Company insiders own 8.70% of the company's stock.

Institutional Trading of Apollo Global Management

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sugarloaf Wealth Management LLC purchased a new position in Apollo Global Management in the 4th quarter valued at $31,000. DSM Capital Partners LLC acquired a new position in Apollo Global Management during the fourth quarter worth about $31,000. Blue Trust Inc. boosted its position in Apollo Global Management by 151.4% during the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider's stock worth $33,000 after acquiring an additional 221 shares during the last quarter. True Wealth Design LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at about $33,000. Finally, CVA Family Office LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at about $34,000. Hedge funds and other 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 and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.