Apollo Global Management (NYSE:APO) Shares Gap Up on Analyst Upgrade

Apollo Global Management, Inc. (NYSE:APO) shares gapped up prior to trading on Monday after Barclays raised their price target on the stock from $174.00 to $200.00. The stock had previously closed at $177.85, but opened at $189.30. Barclays currently has an overweight rating on the stock. Apollo Global Management shares last traded at $184.13, with a volume of 4,037,693 shares traded.

Several other equities analysts have also recently issued reports on the company. StockNews.com upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Argus reduced their price objective on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods upped their target price on shares of Apollo Global Management from $159.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Redburn Partners assumed coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $156.42.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 196,600 shares of company stock valued at $34,186,128 over the last 90 days. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after purchasing an additional 254,268 shares during the last quarter. Legal & General Group Plc raised its position in shares of Apollo Global Management by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after acquiring an additional 126,859 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Apollo Global Management by 3.8% during 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 purchasing an additional 97,797 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after buying an additional 383,557 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Apollo Global Management by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock worth $167,298,000 after buying an additional 4,892 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Trading Up 3.5 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The business has a 50 day moving average of $153.46 and a two-hundred day moving average of $128.97. The firm has a market capitalization of $104.14 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.84 and a beta of 1.63.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Monday, November 18th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 19.33%.

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.