Apollo Global Management (NYSE:APO) Price Target Lowered to $129.00 at Deutsche Bank Aktiengesellschaft

Apollo Global Management (NYSE:APO) had its price target cut by Deutsche Bank Aktiengesellschaft from $130.00 to $129.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. TD Cowen boosted their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a buy rating in a research note on Monday, July 8th. Jefferies Financial Group reduced their target price on shares of Apollo Global Management from $119.00 to $117.00 and set a hold rating for the company in a research note on Thursday, May 9th. JPMorgan Chase & Co. upped their price target on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. Evercore ISI upped their price target on shares of Apollo Global Management from $128.00 to $130.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Finally, JMP Securities reaffirmed a market perform rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $121.00.

Apollo Global Management Stock Down 10.7 %

Shares of APO traded down $12.44 during midday trading on Friday, hitting $103.53. The company had a trading volume of 8,835,168 shares, compared to its average volume of 2,292,940. The company’s 50 day moving average price is $118.33 and its 200 day moving average price is $112.46. The stock has a market cap of $58.82 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.95 and a beta of 1.59. Apollo Global Management has a 52 week low of $77.11 and a 52 week high of $126.45. 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 (NYSE:APO) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 17.97%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same period last year, the firm posted $1.54 earnings per share. On average, equities research analysts predict that Apollo Global Management will post 7.09 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.79%. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the company’s stock in a transaction that occurred on 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 owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC grew its position in Apollo Global Management by 112.3% in the first quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock worth $117,558,000 after acquiring an additional 552,893 shares in the last quarter. Strategic Blueprint LLC grew its position in Apollo Global Management by 42.4% in the fourth quarter. Strategic Blueprint LLC now owns 46,585 shares of the financial services provider’s stock worth $4,341,000 after acquiring an additional 13,870 shares in the last quarter. Principal Financial Group Inc. grew its position in Apollo Global Management by 287.5% in the fourth quarter. Principal Financial Group Inc. now owns 307,786 shares of the financial services provider’s stock worth $28,683,000 after acquiring an additional 228,367 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Apollo Global Management by 5.6% during the 4th quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock worth $88,599,000 after buying an additional 50,008 shares during the period. Finally, CenterBook Partners LP boosted its holdings in shares of Apollo Global Management by 59.9% during the 4th quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock worth $1,933,000 after buying an additional 7,769 shares during the period. 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 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.