Apollo Global Management (NYSE:APO) Stock Price Expected to Rise, Citigroup Analyst Says

Apollo Global Management (NYSE:APO) had its target price upped by Citigroup from $162.00 to $170.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

APO has been the topic of a number of other research reports. Argus cut their target price 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. JPMorgan Chase & Co. lifted their price objective 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. The Goldman Sachs Group increased their target price on Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price target on Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Barclays increased their price objective on Apollo Global Management from $148.00 to $174.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.83.

Apollo Global Management Stock Performance

Shares of APO stock opened at $163.67 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $130.21 and a 200 day moving average of $120.07. The firm has a market capitalization of $93.21 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.55 and a beta of 1.59. Apollo Global Management has a 52 week low of $82.71 and a 52 week high of $166.72.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.463 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.13%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 19.72%.

Institutional Investors Weigh In On Apollo Global Management

Several institutional investors have recently modified their holdings of APO. Norden Group LLC purchased a new position in shares of Apollo Global Management in the 1st quarter worth $708,000. Private Advisor Group LLC grew its position in shares of Apollo Global Management by 18.9% during the first quarter. Private Advisor Group LLC now owns 9,460 shares of the financial services provider’s stock worth $1,064,000 after purchasing an additional 1,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Apollo Global Management by 69.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,103 shares of the financial services provider’s stock valued at $7,240,000 after acquiring an additional 26,693 shares in the last quarter. Signaturefd LLC grew its holdings in Apollo Global Management by 4.6% during the 1st quarter. Signaturefd LLC now owns 8,546 shares of the financial services provider’s stock valued at $961,000 after buying an additional 372 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in Apollo Global Management by 1.0% in the first quarter. Advisory Services Network LLC now owns 36,348 shares of the financial services provider’s stock worth $4,087,000 after purchasing an additional 376 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other 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.