Apollo Global Management (NYSE:APO) Price Target Cut to $139.00 by Analysts at Wells Fargo & Company

Apollo Global Management (NYSE:APO - Free Report) had its target price lowered by Wells Fargo & Company from $177.00 to $139.00 in a report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider's stock.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets upped their price target on Apollo Global Management from $157.00 to $186.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. StockNews.com lowered shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Tuesday, December 10th. Citigroup decreased their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, Barclays reduced their price objective on shares of Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. One 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 stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $157.95.

Remove Ads

Apollo Global Management Trading Up 1.6 %

NYSE APO traded up $2.04 during trading on Tuesday, hitting $125.97. The stock had a trading volume of 6,257,035 shares, compared to its average volume of 3,777,021. 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 company has a market capitalization of $71.87 billion, a PE ratio of 17.23, a PEG ratio of 1.17 and a beta of 1.66. The firm has a 50 day moving average price of $141.67 and a 200 day moving average price of $153.45. Apollo Global Management has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.47%. Apollo Global Management's dividend payout ratio (DPR) is 25.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm's stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. This represents a 4,331.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares of the company's stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Apollo Global Management

A number of hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP grew its position in Apollo Global Management by 50.9% during the third quarter. Quantinno Capital Management LP now owns 18,854 shares of the financial services provider's stock valued at $2,355,000 after acquiring an additional 6,358 shares during the period. EP Wealth Advisors LLC increased its position in Apollo Global Management by 61.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 5,456 shares of the financial services provider's stock worth $681,000 after purchasing an additional 2,081 shares in the last quarter. National Bank of Canada FI raised its holdings in Apollo Global Management by 11.9% in the third quarter. National Bank of Canada FI now owns 9,089 shares of the financial services provider's stock valued at $1,135,000 after buying an additional 970 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Apollo Global Management by 3.1% in the third quarter. Orion Portfolio Solutions LLC now owns 12,791 shares of the financial services provider's stock valued at $1,598,000 after buying an additional 388 shares during the period. Finally, MML Investors Services LLC lifted its position in Apollo Global Management by 23.3% during the third quarter. MML Investors Services LLC now owns 14,629 shares of the financial services provider's stock valued at $1,827,000 after buying an additional 2,767 shares in the last quarter. 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.