JPMorgan Chase & Co. Increases Apollo Global Management (NYSE:APO) Price Target to $143.00

Apollo Global Management (NYSE:APO) had its price target increased by JPMorgan Chase & Co. from $129.00 to $143.00 in a report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on APO. Barclays decreased their price objective on Apollo Global Management from $131.00 to $128.00 and set an overweight rating for the company in a report on Friday, August 2nd. Wells Fargo & Company increased their price objective on Apollo Global Management from $132.00 to $148.00 and gave the company an overweight rating in a report on Wednesday. Bank of America raised Apollo Global Management from a neutral rating to a buy rating and decreased their price objective for the company from $124.00 to $123.00 in a report on Tuesday, August 6th. Wolfe Research started coverage on Apollo Global Management in a report on Wednesday, September 25th. They set an outperform rating and a $139.00 price target for the company. Finally, UBS Group increased their price target on Apollo Global Management from $116.00 to $123.00 and gave the stock a neutral rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $134.78.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $135.33 on Wednesday. The firm has a market capitalization of $76.89 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.30 and a beta of 1.62. Apollo Global Management has a 52 week low of $77.11 and a 52 week high of $136.26. 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 firm’s 50 day moving average is $114.83 and its two-hundred day moving average is $114.95.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same period in the previous year, the company posted $1.54 earnings per share. Research analysts forecast that Apollo Global Management will post 6.62 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

Insiders Place Their Bets

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC increased its position in shares of 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 valued at $117,558,000 after buying an additional 552,893 shares in the last quarter. CenterBook Partners LP increased its position in 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 purchasing an additional 7,769 shares in the last quarter. Empowered Funds LLC increased its position in Apollo Global Management by 193.3% during the 1st quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock worth $5,755,000 after purchasing an additional 33,731 shares in the last quarter. Diversified Trust Co purchased a new stake in Apollo Global Management during the 1st quarter worth about $1,731,000. Finally, Cobalt Capital Management Inc. purchased a new stake in Apollo Global Management during the 4th quarter worth about $932,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.