Apollo Global Management (NYSE:APO) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Apollo Global Management (NYSE:APO) from a hold rating to a sell rating in a research note published on Wednesday morning.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler initiated coverage on shares of Apollo Global Management in a research note on Tuesday, November 19th. They issued an “overweight” rating and a $188.00 target price for the company. Barclays boosted their price objective on Apollo Global Management from $148.00 to $174.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Citigroup raised their target price on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Redburn Atlantic assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. Finally, Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.05.

Apollo Global Management Trading Up 1.5 %

Shares of Apollo Global Management stock opened at $167.56 on Wednesday. Apollo Global Management has a 12-month low of $88.58 and a 12-month high of $169.58. The stock has a market capitalization of $94.81 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.70 and a beta of 1.59. The company has a 50-day simple moving average of $143.02 and a 200 day simple moving average of $124.53. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.463 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.11%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Institutional Trading of Apollo Global Management

Institutional investors and hedge funds have recently modified their holdings of the stock. Unigestion Holding SA acquired a new position in Apollo Global Management during the third quarter valued at approximately $609,000. TCW Group Inc. boosted its position in shares of Apollo Global Management by 2.9% during the third quarter. TCW Group Inc. now owns 671,479 shares of the financial services provider’s stock worth $83,874,000 after purchasing an additional 18,785 shares in the last quarter. Hohimer Wealth Management LLC grew its holdings in shares of Apollo Global Management by 3.6% in the 3rd quarter. Hohimer Wealth Management LLC now owns 7,162 shares of the financial services provider’s stock valued at $895,000 after buying an additional 247 shares during the period. Toronto Dominion Bank increased its position in shares of Apollo Global Management by 27.7% in the 3rd quarter. Toronto Dominion Bank now owns 52,645 shares of the financial services provider’s stock valued at $6,576,000 after buying an additional 11,411 shares in the last quarter. Finally, Chiron Investment Management LLC bought a new stake in shares of Apollo Global Management in the 3rd quarter valued at $397,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Company Profile

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.