Wells Fargo & Co Increases Apollo Global Management (NYSE:APO) Price Target to $48.00
Apollo Global Management (NYSE:APO) had its target price upped by Wells Fargo & Co from $42.00 to $48.00 in a report published on Thursday, BenzingaRatingsTable reports. They currently have an outperform rating on the financial services provider’s stock.
Several other equities research analysts have also recently issued reports on APO. Morgan Stanley boosted their price objective on shares of Apollo Global Management from $33.00 to $36.00 and gave the company an equal weight rating in a research report on Tuesday, July 9th. JMP Securities boosted their price objective on shares of Apollo Global Management from $36.00 to $40.00 and gave the company a market outperform rating in a research report on Friday, June 7th. Credit Suisse Group raised shares of Apollo Global Management from a neutral rating to an outperform rating and boosted their price objective for the company from $39.00 to $42.00 in a research report on Tuesday, May 21st. Barclays initiated coverage on shares of Apollo Global Management in a research report on Monday, August 5th. They issued an overweight rating and a $45.00 price objective for the company. Finally, Zacks Investment Research cut shares of Apollo Global Management from a buy rating to a hold rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Apollo Global Management currently has a consensus rating of Buy and a consensus price target of $40.22.
Shares of APO stock traded down $0.17 during trading hours on Thursday, reaching $40.41. 91,792 shares of the stock were exchanged, compared to its average volume of 3,077,174. Apollo Global Management has a 12-month low of $22.63 and a 12-month high of $41.79. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $35.43 and its 200-day moving average price is $32.56. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of -192.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.95%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, August 15th. Apollo Global Management’s payout ratio is -952.38%.
In other Apollo Global Management news, Director Pauline Richards purchased 2,720 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $30.85 per share, with a total value of $83,912.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $39.96, for a total transaction of $159,840.00. The disclosure for this sale can be found here. 46.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Boston Partners purchased a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $125,000. Royal Bank of Canada lifted its position in shares of Apollo Global Management by 7.0% in the 2nd quarter. Royal Bank of Canada now owns 98,758 shares of the financial services provider’s stock worth $3,388,000 after purchasing an additional 6,455 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Apollo Global Management by 5.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 31,421 shares of the financial services provider’s stock worth $1,078,000 after purchasing an additional 1,566 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $19,021,000. Finally, Bluefin Trading LLC purchased a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $1,080,000. 72.82% of the stock is owned by hedge funds and other institutional investors.
Apollo Global Management Company Profile
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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