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

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

APO has been the subject of several other research reports. Redburn Atlantic started coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. Evercore ISI increased their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler started coverage on Apollo Global Management in a research report on Tuesday, November 19th. They issued an “overweight” rating and a $188.00 price objective on the stock. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.89.

Apollo Global Management Stock Down 1.2 %

APO stock opened at $176.40 on Tuesday. The stock’s 50 day moving average is $157.09 and its 200-day moving average is $130.47. Apollo Global Management has a twelve month low of $89.76 and a twelve month high of $189.49. The firm has a market capitalization of $99.81 billion, a PE ratio of 18.43, a P/E/G ratio of 1.84 and a beta of 1.63. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a dividend of $0.463 per share. The ex-dividend date was Monday, November 18th. This represents a $1.85 annualized dividend and a yield of 1.05%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is presently 19.33%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Apollo Global Management during the 3rd quarter valued at about $503,000. Sfmg LLC lifted its holdings in Apollo Global Management by 1.1% during the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock valued at $902,000 after purchasing an additional 79 shares in the last quarter. World Investment Advisors LLC raised its position in shares of Apollo Global Management by 1.8% during the 3rd quarter. World Investment Advisors LLC now owns 6,823 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 119 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Apollo Global Management by 11.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 110,347 shares of the financial services provider’s stock valued at $13,783,000 after buying an additional 11,370 shares in the last quarter. Finally, Unigestion Holding SA purchased a new stake in Apollo Global Management in the 3rd quarter worth $609,000. Hedge funds and other 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.