TD Cowen Raises Apollo Global Management (NYSE:APO) Price Target to $178.00

Apollo Global Management (NYSE:APO) had its price objective boosted by TD Cowen from $165.00 to $178.00 in a research note released on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on APO. BMO Capital Markets upped their price target on shares of Apollo Global Management from $138.00 to $157.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays increased their target price on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a report on Wednesday. Wolfe Research started coverage on Apollo Global Management in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 target price for the company. Redburn Partners assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Finally, Morgan Stanley raised their price objective on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $150.83.

Apollo Global Management Price Performance

NYSE APO opened at $162.00 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management has a 1 year low of $83.88 and a 1 year high of $166.72. The company has a market cap of $92.26 billion, a PE ratio of 16.93, a PEG ratio of 1.80 and a beta of 1.59. The stock’s 50-day moving average price is $132.07 and its two-hundred day moving average price is $120.75.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.463 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.14%. Apollo Global Management’s dividend payout ratio is 19.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors increased its position in Apollo Global Management by 40.3% during the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after buying an additional 1,360,525 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Apollo Global Management by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after acquiring an additional 126,859 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock valued at $318,522,000 after acquiring an additional 97,797 shares in the last quarter. Curated Wealth Partners LLC lifted its holdings in Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock worth $278,945,000 after purchasing an additional 4,717,661 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in Apollo Global Management by 8.4% during the first quarter. William Blair Investment Management LLC now owns 1,904,212 shares of the financial services provider’s stock worth $214,129,000 after purchasing an additional 147,710 shares during the period. Institutional investors 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.