Morgan Stanley Issues Pessimistic Forecast for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO - Free Report) had its price objective decreased by Morgan Stanley from $170.00 to $131.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider's stock.

APO has been the topic of several other research reports. Piper Sandler reduced their price target on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Citigroup reduced their price target on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Raymond James began coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price for the company. Finally, BMO Capital Markets increased their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and a consensus target price of $156.00.

Apollo Global Management Price Performance

APO traded up $1.57 during trading hours on Monday, hitting $126.78. The company's stock had a trading volume of 2,638,630 shares, compared to its average volume of 3,793,029. Apollo Global Management has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The business's 50-day moving average price is $138.04 and its 200-day moving average price is $153.25. The stock has a market cap of $72.33 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's payout ratio is currently 25.31%.

Insider Buying and Selling

In other news, insider Lb 2018 Gst Trust purchased 607,725 shares of the business's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares of the company's stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in Apollo Global Management during the fourth quarter worth about $25,000. Hopwood Financial Services Inc. bought a new position in Apollo Global Management in the fourth quarter worth $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management during the fourth quarter worth $34,000. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $37,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Apollo Global Management during the 4th quarter worth about $39,000. Institutional investors and hedge funds 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.