Apollo Global Management (NYSE:APO) Share Price Breaks Below 200-Day Moving Average - Here's What Happened

Key Points

• Apollo Global Management shares fell below their 200-day moving average of $122.66 on Thursday, reaching an intraday low of $119.52 before last trading at $121.25.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $145.21; recent target changes were mixed, including cuts from Goldman Sachs, Barclays, Argus and Jefferies, and an increase from JPMorgan.
• Apollo announced a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually and a 1.9% yield; it is payable November 30 to shareholders of record November 18.

Apollo Global Management Inc. (NYSE:APO - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $122.66 and traded as low as $119.52. Apollo Global Management shares last traded at $121.2510, with a volume of 2,910,159 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on Apollo Global Management from $154.00 to $148.00 and set a "buy" rating for the company in a report on Friday, October 2nd. Barclays lowered their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a report on Wednesday, November 4th. Argus dropped their price objective on shares of Apollo Global Management from $160.00 to $140.00 and set a "buy" rating for the company in a report on Friday, November 6th. Jefferies Financial Group lowered their target price on Apollo Global Management from $138.00 to $127.00 and set a "hold" rating for the company in a research report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Apollo Global Management from $153.00 to $157.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $145.21.

Apollo Global Management Trading Down 1.4%

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.41. The firm's 50-day moving average price is $119.85 and its 200 day moving average price is $122.66. The company has a market capitalization of $71.60 billion, a P/E ratio of -66.26, a P/E/G ratio of 1.16 and a beta of 1.51.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Wednesday, November 18th will be issued a $0.5625 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. Apollo Global Management's dividend payout ratio is currently -122.95%.

Insider Buying and Selling

In other Apollo Global Management news, insider Whitney Chatterjee sold 7,339 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $117.83, for a total value of $864,754.37. Following the completion of the sale, the insider owned 129,151 shares in the company, valued at approximately $15,217,862.33. This trade represents a 5.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.30% of the company's stock.

Institutional Investors Weigh In On Apollo Global Management

Several large investors have recently made changes to their positions in APO. Greenleaf Trust increased its position in Apollo Global Management by 2.6% in the third quarter. Greenleaf Trust now owns 4,144 shares of the financial services provider's stock worth $481,000 after buying an additional 105 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Apollo Global Management by 3.9% during the first quarter. International Assets Investment Management LLC now owns 3,167 shares of the financial services provider's stock valued at $349,000 after buying an additional 119 shares during the period. Chickasaw Capital Management LLC boosted its position in shares of Apollo Global Management by 4.7% during the 3rd quarter. Chickasaw Capital Management LLC now owns 2,663 shares of the financial services provider's stock valued at $309,000 after acquiring an additional 120 shares during the last quarter. Bfsg LLC lifted its position in Apollo Global Management by 58.4% during the third quarter. Bfsg LLC now owns 331 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 122 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its position in Apollo Global Management by 2.4% in the second quarter. 180 Wealth Advisors LLC now owns 5,571 shares of the financial services provider's stock worth $659,000 after acquiring an additional 131 shares in 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 is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors. The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform. Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.