TD Cowen Raises Apollo Global Management (NYSE:APO) Price Target to $162.00

Apollo Global Management (NYSE:APO) had its price objective hoisted by TD Cowen from $135.00 to $162.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on APO. StockNews.com cut shares of Apollo Global Management from a hold rating to a sell rating in a research report on Thursday, August 8th. Wells Fargo & Company boosted their target price on shares of Apollo Global Management from $132.00 to $148.00 and gave the company an overweight rating in a research report on Wednesday. BMO Capital Markets boosted their target price on shares of Apollo Global Management from $123.00 to $138.00 and gave the company an outperform rating in a research report on Wednesday. Barclays lowered their price target on shares of Apollo Global Management from $131.00 to $128.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Finally, Evercore ISI lifted their price target on shares of Apollo Global Management from $127.00 to $150.00 and gave the company an outperform rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $134.78.

Apollo Global Management Price Performance

APO stock opened at $135.33 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management has a one year low of $77.11 and a one year high of $136.26. The stock has a market cap of $76.89 billion, a PE ratio of 14.99, a P/E/G ratio of 1.30 and a beta of 1.62. The firm has a 50 day simple moving average of $114.83 and a two-hundred day simple moving average of $114.95.

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

Apollo Global Management Cuts Dividend

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

Insider Buying and Selling

In other news, Director Pauline Richards acquired 2,351 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

Several hedge funds have recently modified their holdings of APO. Cullen Frost Bankers Inc. bought a new position in Apollo Global Management during the 2nd quarter worth $35,000. J.Safra Asset Management Corp lifted its holdings in shares of Apollo Global Management by 709.3% in the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after buying an additional 305 shares during the period. True Wealth Design LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $33,000. Riverview Trust Co purchased a new position in shares of Apollo Global Management during the first quarter valued at $45,000. Finally, Compass Wealth Management LLC grew its stake in Apollo Global Management by 48.7% during the 1st quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 146 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other 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.