Apollo Global Management (NYSE:APO) Downgraded by StockNews.com to “Sell”

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

Several other equities analysts have also commented on the stock. Wolfe Research started coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 target price on the stock. Argus decreased their price objective 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. UBS Group upgraded Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their target price on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $159.16.

Apollo Global Management Stock Up 1.3 %

Shares of NYSE APO opened at $174.79 on Tuesday. The stock has a market capitalization of $98.90 billion, a P/E ratio of 18.26, a PEG ratio of 1.84 and a beta of 1.63. The stock’s fifty day moving average is $155.27 and its 200 day moving average is $129.81. Apollo Global Management has a 52 week low of $89.76 and a 52 week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.06%. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio is 19.33%.

Insider Activity

In other news, insider Leon D. Black sold 58,200 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the sale, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,600 shares of company stock valued at $34,186,128. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

A number of institutional investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new position in Apollo Global Management in the second quarter valued at $35,000. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management during the 3rd quarter worth about $35,000. Prospera Private Wealth LLC bought a new position in shares of Apollo Global Management in the 3rd quarter worth about $80,000. Truvestments Capital LLC acquired a new position in shares of Apollo Global Management in the 3rd quarter valued at about $83,000. Finally, Allworth Financial LP boosted its position in shares of Apollo Global Management by 14.3% during the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 91 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

About Apollo Global Management

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.