Apollo Global Management (NYSE:APO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Apollo Global Management (NYSE:APO) had its target price increased by Wells Fargo & Company from $149.00 to $164.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their target price on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. BMO Capital Markets raised their price objective on shares of Apollo Global Management from $123.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Argus lowered their target price on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $150.83.

Apollo Global Management Stock Performance

Shares of APO opened at $163.67 on Wednesday. The firm has a 50-day moving average of $130.21 and a 200-day moving average of $120.07. The company has a market cap of $93.21 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.55 and a beta of 1.59. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management has a one year low of $82.71 and a one year high of $166.72.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.463 per share. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 1.13%. Apollo Global Management’s payout ratio is currently 19.72%.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds have recently modified their holdings of the business. Natixis Advisors LLC lifted its holdings in Apollo Global Management by 4.1% in the 3rd quarter. Natixis Advisors LLC now owns 156,585 shares of the financial services provider’s stock worth $19,559,000 after purchasing an additional 6,197 shares in the last quarter. Empowered Funds LLC boosted its stake in Apollo Global Management by 145.3% during the third quarter. Empowered Funds LLC now owns 38,874 shares of the financial services provider’s stock valued at $4,856,000 after buying an additional 23,024 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Apollo Global Management by 4.9% in the third quarter. CIBC Asset Management Inc now owns 19,094 shares of the financial services provider’s stock valued at $2,385,000 after purchasing an additional 899 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Apollo Global Management by 4.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,394 shares of the financial services provider’s stock valued at $1,548,000 after purchasing an additional 562 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of Apollo Global Management by 8.7% in the 3rd quarter. Metis Global Partners LLC now owns 10,186 shares of the financial services provider’s stock valued at $1,272,000 after acquiring an additional 819 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

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.