Piper Sandler Issues Positive Forecast for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO) had its price objective raised by Piper Sandler from $188.00 to $202.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the company. Evercore ISI increased their price target on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised their target price on Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. TD Cowen upped their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Morgan Stanley upped their price target 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. Finally, Wells Fargo & Company lifted their price target on Apollo Global Management from $164.00 to $197.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.63.

Apollo Global Management Stock Down 5.0 %

Shares of Apollo Global Management stock opened at $167.44 on Wednesday. Apollo Global Management has a 52-week low of $89.76 and a 52-week high of $189.49. The firm’s 50 day moving average price is $160.19 and its 200-day moving average price is $132.23. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market cap of $94.74 billion, a P/E ratio of 17.50, a PEG ratio of 1.84 and a beta of 1.63.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.463 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Apollo Global Management

Several hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA acquired a new stake in shares of Apollo Global Management in the second quarter valued at about $62,972,000. Marshall Wace LLP grew its holdings in Apollo Global Management by 74.5% in the second quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock valued at $112,836,000 after purchasing an additional 408,105 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after buying an additional 383,557 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Apollo Global Management by 12,086.7% in the 3rd quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock worth $462,460,000 after buying an additional 367,195 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in Apollo Global Management by 530.9% during the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after acquiring an additional 338,472 shares in the last quarter. Institutional investors and hedge funds 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.