UBS Group Raises Apollo Global Management (NYSE:APO) Price Target to $123.00

Apollo Global Management (NYSE:APO) had its price target upped by UBS Group from $116.00 to $123.00 in a research report released on Wednesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other analysts have also weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an outperform rating in a research note on Friday, April 5th. Evercore ISI boosted their price target on shares of Apollo Global Management from $120.00 to $128.00 and gave the company an outperform rating in a research note on Friday, May 3rd. StockNews.com lowered shares of Apollo Global Management from a hold rating to a sell rating in a research note on Friday, July 5th. JPMorgan Chase & Co. boosted their price target on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an overweight rating in a research note on Wednesday, April 24th. Finally, JMP Securities restated a market perform rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $119.14.

Apollo Global Management Stock Performance

NYSE:APO opened at $120.54 on Wednesday. The company has a fifty day moving average of $115.96 and a 200-day moving average of $109.70. The firm has a market capitalization of $68.49 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.99 and a beta of 1.59. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. Apollo Global Management has a twelve month low of $77.11 and a twelve month high of $122.76.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.21). The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $827.33 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. As a group, sell-side analysts anticipate that Apollo Global Management will post 7.11 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were issued a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, May 16th. Apollo Global Management’s payout ratio is 20.49%.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Curated Wealth Partners LLC boosted its holdings in shares of 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 buying an additional 4,717,661 shares during the last quarter. Atlas Private Wealth Advisors purchased a new stake in Apollo Global Management during the second quarter valued at about $307,000. Opal Wealth Advisors LLC lifted its holdings in Apollo Global Management by 54.8% during the second quarter. Opal Wealth Advisors LLC now owns 3,151 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 1,116 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Apollo Global Management by 8.8% during the second quarter. QRG Capital Management Inc. now owns 23,562 shares of the financial services provider’s stock valued at $2,782,000 after purchasing an additional 1,899 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Apollo Global Management during the second quarter valued at about $2,952,000. 77.06% of the stock is 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 and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.