Barclays Trims Apollo Global Management (NYSE:APO) Target Price to $128.00

Apollo Global Management (NYSE:APO) had its price target cut by Barclays from $131.00 to $128.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities analysts have also commented on the company. Keefe, Bruyette & Woods boosted their price target on Apollo Global Management from $134.00 to $141.00 and gave the stock an outperform rating in a research report on Friday, July 12th. Jefferies Financial Group dropped their price target on shares of Apollo Global Management from $119.00 to $117.00 and set a hold rating on the stock in a research note on Thursday, May 9th. StockNews.com upgraded Apollo Global Management from a sell rating to a hold rating in a research note on Monday, July 29th. UBS Group upped their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a neutral rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an overweight rating in a report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $122.77.

Apollo Global Management Trading Down 4.2 %

Shares of APO stock opened at $99.15 on Friday. The stock’s fifty day moving average is $118.00 and its two-hundred day moving average is $112.71. The firm has a market capitalization of $56.33 billion, a P/E ratio of 10.98, a PEG ratio of 0.95 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. Apollo Global Management has a fifty-two week low of $77.11 and a fifty-two week high of $126.45.

Apollo Global Management (NYSE:APO) last posted its 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 analysts’ expectations of $873.18 million. During the same period last year, the company earned $1.54 EPS. Research analysts expect that Apollo Global Management will post 7.09 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.87%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of 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 document filed with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

A number of hedge funds have recently bought and sold shares of APO. Candriam S.C.A. lifted its stake in Apollo Global Management by 7.9% during the second quarter. Candriam S.C.A. now owns 163,002 shares of the financial services provider’s stock valued at $19,245,000 after purchasing an additional 11,866 shares during the last quarter. Private Advisor Group LLC raised its position in Apollo Global Management by 9.1% in the second quarter. Private Advisor Group LLC now owns 10,318 shares of the financial services provider’s stock worth $1,218,000 after purchasing an additional 858 shares in the last quarter. Wellington Shields Capital Management LLC raised its stake in shares of Apollo Global Management by 1.1% in the second quarter. Wellington Shields Capital Management LLC now owns 51,268 shares of the financial services provider’s stock valued at $6,053,000 after acquiring an additional 573 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Apollo Global Management by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 115,299 shares of the financial services provider’s stock valued at $13,613,000 after buying an additional 1,290 shares during the period. Finally, Altus Wealth Group LLC increased its holdings in Apollo Global Management by 6.2% in the second quarter. Altus Wealth Group LLC now owns 10,428 shares of the financial services provider’s stock valued at $1,231,000 after purchasing an additional 613 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.