UBS Group Lowers Apollo Global Management (NYSE:APO) Price Target to $155.00

Apollo Global Management (NYSE:APO) had its price objective reduced by UBS Group from $170.00 to $155.00 in a research note published on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on APO. Raymond James initiated coverage on Apollo Global Management in a report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target for the company. Citigroup decreased their target price on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. TD Cowen dropped their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Bank of America boosted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Finally, Wells Fargo & Company dropped their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.25.

Apollo Global Management Stock Down 1.7 %

APO stock opened at $135.49 on Thursday. Apollo Global Management has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company’s 50 day moving average price is $133.18 and its 200 day moving average price is $152.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $77.29 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.72 earnings per share. On average, equities research analysts anticipate that Apollo Global Management will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.51 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.51%. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Insider Activity at Apollo Global Management

In other news, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. This represents a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI boosted its holdings in Apollo Global Management by 49.5% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 4,639 shares of the financial services provider’s stock worth $636,000 after buying an additional 1,537 shares in the last quarter. Graypoint LLC lifted its position in shares of Apollo Global Management by 12.0% during the 1st quarter. Graypoint LLC now owns 2,227 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 239 shares during the period. Dynasty Wealth Management LLC purchased a new stake in shares of Apollo Global Management during the 1st quarter worth approximately $692,000. Verdence Capital Advisors LLC grew its holdings in shares of Apollo Global Management by 33.2% in the 1st quarter. Verdence Capital Advisors LLC now owns 40,065 shares of the financial services provider’s stock worth $5,486,000 after acquiring an additional 9,997 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in Apollo Global Management by 36.0% in the 1st quarter. Cullen Frost Bankers Inc. now owns 408 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 108 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

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.