Apollo Global Management (NYSE:APO) Price Target Cut to $177.00 by Analysts at Wells Fargo & Company

Apollo Global Management (NYSE:APO) had its price objective trimmed by Wells Fargo & Company from $187.00 to $177.00 in a research note released on Thursday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on APO. TD Cowen upped their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley upped their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Barclays upped their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Piper Sandler upped their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.21.

Apollo Global Management Stock Up 1.0 %

Shares of NYSE APO opened at $144.77 on Thursday. The firm’s 50-day simple moving average is $154.54 and its 200 day simple moving average is $151.55. The company has a market cap of $82.59 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management has a 12-month low of $95.11 and a 12-month high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.28%. Apollo Global Management’s payout ratio is 25.31%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds have recently made changes to their positions in the business. Partners Group Holding AG grew its stake in shares of Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after acquiring an additional 162,678 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $3,994,000. Swedbank AB boosted its holdings in shares of Apollo Global Management by 50.9% in the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after buying an additional 26,300 shares during the last quarter. Fortress Financial Solutions LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $685,000. Finally, Leavell Investment Management Inc. boosted its holdings in shares of Apollo Global Management by 39.8% in the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 1,750 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

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.