Apollo Global Management (NYSE:APO) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Apollo Global Management (NYSE:APO - Free Report) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Several other research analysts also recently issued reports on APO. Redburn Atlantic began coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a "buy" rating and a $153.00 target price on the stock. Wolfe Research initiated coverage on Apollo Global Management in a report on Wednesday, September 25th. They issued an "outperform" rating and a $139.00 target price for the company. TD Cowen upped their price target on Apollo Global Management from $165.00 to $178.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their price objective on Apollo Global Management from $138.00 to $157.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $155.05.

Apollo Global Management Trading Down 3.2 %

APO traded down $5.38 during trading on Wednesday, hitting $162.87. 5,836,924 shares of the stock traded hands, compared to its average volume of 2,679,656. The firm has a market capitalization of $92.16 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.69 and a beta of 1.59. Apollo Global Management has a 12-month low of $87.85 and a 12-month high of $169.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a 50-day moving average of $140.91 and a 200 day moving average of $123.77.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.463 per share. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.14%. Apollo Global Management's dividend payout ratio is presently 19.33%.

Hedge Funds Weigh In On Apollo Global Management

A number of institutional investors have recently bought and sold shares of the business. PGGM Investments purchased a new stake in Apollo Global Management during the 1st quarter valued at about $840,000. Mackenzie Financial Corp increased its holdings in shares of Apollo Global Management by 4.5% in the second quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider's stock valued at $21,119,000 after purchasing an additional 7,679 shares during the last quarter. Forsta AP Fonden lifted its position in Apollo Global Management by 8.4% during the third quarter. Forsta AP Fonden now owns 143,600 shares of the financial services provider's stock worth $17,937,000 after buying an additional 11,100 shares in the last quarter. Ameliora Wealth Management Ltd. boosted its stake in Apollo Global Management by 445.8% during the second quarter. Ameliora Wealth Management Ltd. now owns 21,980 shares of the financial services provider's stock worth $2,595,000 after buying an additional 17,953 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Apollo Global Management by 116.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 229,359 shares of the financial services provider's stock valued at $25,791,000 after buying an additional 123,559 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Apollo Global Management

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.