Apollo Global Management (NYSE:APO) Price Target Raised to $178.00

Apollo Global Management (NYSE:APO - Free Report) had its price target raised by The Goldman Sachs Group from $161.00 to $178.00 in a research report sent to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider's stock.

Other research analysts have also recently issued research reports about the stock. Redburn Partners initiated coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a "buy" rating and a $153.00 price target on the stock. Piper Sandler assumed coverage on shares of Apollo Global Management in a research note on Tuesday. They set an "overweight" rating and a $188.00 price target on the stock. Barclays raised their price objective on shares of Apollo Global Management from $148.00 to $174.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Argus decreased their price objective on shares of Apollo Global Management from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average target price of $155.05.

Apollo Global Management Stock Performance

APO stock traded up $3.97 on Tuesday, hitting $168.28. The company had a trading volume of 4,706,599 shares, compared to its average volume of 2,665,005. The stock's 50-day simple moving average is $139.82 and its 200 day simple moving average is $123.50. The stock has a market cap of $95.22 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.69 and a beta of 1.59. Apollo Global Management has a 12-month low of $86.21 and a 12-month high of $169.15. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.463 dividend. The ex-dividend date 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 1.10%. Apollo Global Management's payout ratio is 19.33%.

Institutional Trading of Apollo Global Management

Large investors have recently made changes to their positions in the business. PGGM Investments bought a new stake in shares of Apollo Global Management in the 1st quarter worth about $840,000. Mackenzie Financial Corp increased its holdings in shares of Apollo Global Management by 4.5% in the 2nd quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider's stock worth $21,119,000 after buying an additional 7,679 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of Apollo Global Management by 8.4% in the 3rd 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 during the last quarter. Ameliora Wealth Management Ltd. boosted its stake in shares of Apollo Global Management by 445.8% during the 2nd quarter. Ameliora Wealth Management Ltd. now owns 21,980 shares of the financial services provider's stock worth $2,595,000 after purchasing an additional 17,953 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Apollo Global Management by 116.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 229,359 shares of the financial services provider's stock worth $25,791,000 after purchasing an additional 123,559 shares during the period. 77.06% of the stock is currently owned by 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.