Apollo Global Management (NYSE:APO) Price Target Increased to $128.00 by Analysts at Evercore ISI

Apollo Global Management (NYSE:APO) had its price target lifted by Evercore ISI from $120.00 to $128.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

APO has been the subject of a number of other research reports. JMP Securities restated a market perform rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. TD Cowen began coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They issued an outperform rating and a $115.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an outperform rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company upped their target price on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $114.31.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $109.46 on Friday. The firm has a fifty day moving average of $111.11 and a two-hundred day moving average of $99.97. The stock has a market capitalization of $62.19 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.94 and a beta of 1.61. Apollo Global Management has a 52 week low of $57.50 and a 52 week high of $117.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. Apollo Global Management had a net margin of 16.27% and a return on equity of 20.77%. The company had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. As a group, equities research analysts predict that Apollo Global Management will post 7.43 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, May 16th. Apollo Global Management’s dividend payout ratio is currently 19.05%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 450,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at approximately $4,716,774,418.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now directly owns 366,572 shares in the company, valued at $39,989,339.48. The disclosure for this sale can be found here. Insiders have sold a total of 1,426,000 shares of company stock valued at $158,226,960 in the last three months. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Apollo Global Management

Several large investors have recently made changes to their positions in the company. Sugarloaf Wealth Management LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $31,000. DSM Capital Partners LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $31,000. Blue Trust Inc. boosted its position in Apollo Global Management by 151.4% in the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock valued at $33,000 after buying an additional 221 shares in the last quarter. True Wealth Design LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $33,000. Finally, CVA Family Office LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds 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.