Wells Fargo & Company Has Lowered Expectations for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO - Free Report) had its price objective lowered by Wells Fargo & Company from $197.00 to $191.00 in a report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider's stock.

Several other research analysts have also recently weighed in on the company. TD Cowen raised their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Citigroup raised their price objective on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. BMO Capital Markets upped their price target on Apollo Global Management from $157.00 to $186.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Finally, Morgan Stanley raised their price objective on Apollo Global Management from $111.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $164.32.

Apollo Global Management Price Performance

APO traded up $4.65 during trading on Tuesday, reaching $159.45. The stock had a trading volume of 3,511,921 shares, compared to its average volume of 3,450,999. The stock has a 50 day moving average of $168.74 and a two-hundred day moving average of $138.69. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $90.22 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63. Apollo Global Management has a 1-year low of $94.19 and a 1-year high of $189.49.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.463 per share. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Monday, November 18th. Apollo Global Management's payout ratio is 19.33%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares of the company's stock, valued at $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 133,400 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the sale, the insider now owns 35,471,373 shares of the company's stock, valued at $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock worth $34,186,128 over the last quarter. Company insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of APO. Compagnie Lombard Odier SCmA acquired a new position in Apollo Global Management in the third quarter valued at approximately $35,000. Prospera Private Wealth LLC acquired a new position in shares of Apollo Global Management in the 3rd quarter valued at $80,000. Truvestments Capital LLC bought a new position in shares of Apollo Global Management in the 3rd quarter worth $83,000. Versant Capital Management Inc grew its stake in shares of Apollo Global Management by 203.6% during the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider's stock worth $83,000 after purchasing an additional 336 shares during the period. Finally, Allworth Financial LP increased its holdings in Apollo Global Management by 14.3% in the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

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.