Apollo Global Management (NYSE:APO) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Apollo Global Management (NYSE:APO) from a hold rating to a sell rating in a research note released on Wednesday morning.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their price target on Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler began coverage on Apollo Global Management in a research report on Tuesday. They issued an “overweight” rating and a $188.00 target price on the stock. Finally, Barclays raised their target price on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.05.

Apollo Global Management Stock Down 3.2 %

APO stock opened at $162.87 on Wednesday. The firm has a market cap of $92.15 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.69 and a beta of 1.59. Apollo Global Management has a 1-year low of $87.85 and a 1-year high of $169.15. The firm has a fifty day moving average price of $140.91 and a two-hundred day moving average price of $123.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.463 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.14%. Apollo Global Management’s dividend payout ratio is 19.33%.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds have recently made changes to their positions in the business. Compagnie Lombard Odier SCmA purchased a new position in shares of Apollo Global Management in the third quarter worth approximately $35,000. Cullen Frost Bankers Inc. acquired a new stake in Apollo Global Management during the second quarter valued at $35,000. Massmutual Trust Co. FSB ADV grew its stake in Apollo Global Management by 293.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 346 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Apollo Global Management in the 3rd quarter worth about $80,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Apollo Global Management during the 3rd quarter worth about $83,000. Institutional investors and hedge funds 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.