JPMorgan Chase & Co. Increases Apollo Global Management (NYSE:APO) Price Target to $143.00

Apollo Global Management (NYSE:APO) had its price target lifted by JPMorgan Chase & Co. from $129.00 to $143.00 in a research note published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on the stock. TD Cowen raised their price target on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a buy rating in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a buy rating for the company in a research report on Thursday, August 15th. Keefe, Bruyette & Woods raised their price target on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an outperform rating in a research report on Friday, July 12th. Redburn Partners started coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a buy rating and a $153.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of Apollo Global Management from $132.00 to $148.00 and gave the stock an overweight rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of Moderate Buy and a consensus target price of $134.78.

Apollo Global Management Stock Up 3.0 %

Shares of NYSE:APO opened at $135.32 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management has a 52-week low of $77.11 and a 52-week high of $136.26. The company has a 50 day moving average of $114.56 and a two-hundred day moving average of $114.77. The company has a market capitalization of $76.88 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.30 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same period last year, the business earned $1.54 EPS. As a group, analysts forecast that Apollo Global Management will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

Insider Buying and Selling at Apollo Global Management

In related news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Apollo Global Management in the third quarter valued at $543,000. Centaurus Financial Inc. raised its stake in shares of Apollo Global Management by 122.2% during the second quarter. Centaurus Financial Inc. now owns 3,571 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 1,964 shares in the last quarter. American Trust raised its stake in shares of Apollo Global Management by 35.6% during the second quarter. American Trust now owns 2,895 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 760 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Apollo Global Management during the second quarter valued at about $11,107,000. Finally, New Century Financial Group LLC bought a new stake in shares of Apollo Global Management during the second quarter valued at about $347,000. 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.