StockNews.com cut shares of Apollo Global Management (NYSE:APO - Free Report) from a hold rating to a sell rating in a report released on Tuesday morning.
A number of other research analysts also recently weighed in on APO. Redburn Partners initiated coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a "buy" rating and a $153.00 price objective for the company. Morgan Stanley increased their price target on Apollo Global Management from $111.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. The Goldman Sachs Group raised their price objective on Apollo Global Management from $161.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Evercore ISI upped their target price on Apollo Global Management from $150.00 to $174.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Finally, Citigroup lifted their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.16.
Check Out Our Latest Report on Apollo Global Management
Apollo Global Management Stock Performance
Shares of APO traded up $2.32 during trading hours on Tuesday, hitting $174.79. The stock had a trading volume of 7,561,093 shares, compared to its average volume of 2,821,075. The firm has a 50-day moving average price of $154.41 and a 200 day moving average price of $129.39. Apollo Global Management has a fifty-two week low of $89.76 and a fifty-two week high of $189.49. The firm has a market capitalization of $98.90 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.84 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.
Apollo Global Management Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a $0.463 dividend. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.06%. Apollo Global Management's dividend payout ratio is presently 19.33%.
Insiders Place Their Bets
In other news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the transaction, the insider now owns 35,471,373 shares in the company, valued at $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares of the company's stock, valued at $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,600 shares of company stock valued at $34,186,128 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.
Institutional Trading of Apollo Global Management
Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider's stock worth $713,230,000 after acquiring an additional 254,268 shares during the last quarter. Legal & General Group Plc increased its position in shares of Apollo Global Management by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider's stock worth $517,527,000 after purchasing an additional 126,859 shares during the last quarter. TD Asset Management Inc raised its holdings in Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider's stock valued at $318,522,000 after buying an additional 97,797 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider's stock valued at $225,600,000 after buying an additional 383,557 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Apollo Global Management by 0.4% in the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider's stock valued at $167,298,000 after buying an additional 4,892 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.
About Apollo Global Management
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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.
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