BMO Capital Markets Issues Positive Forecast for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO) had its target price boosted by BMO Capital Markets from $157.00 to $186.00 in a report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other analysts also recently weighed in on APO. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Redburn Partners started coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. Keefe, Bruyette & Woods increased their price objective 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. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $164.00 to $197.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Citigroup increased their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.16.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $169.63 on Thursday. The business has a 50 day simple moving average of $160.82 and a 200-day simple moving average of $132.49. Apollo Global Management has a 12 month low of $89.76 and a 12 month high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $95.98 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63.

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. This represents a $1.85 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 19.33%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon D. Black sold 133,400 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the transaction, the insider now directly owns 35,471,373 shares in the company, valued at $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock valued at $34,186,128 over the last quarter. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at about $62,972,000. Marshall Wace LLP raised its position in shares of Apollo Global Management by 74.5% during the 2nd quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock worth $112,836,000 after purchasing an additional 408,105 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Apollo Global Management by 27.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the last quarter. International Assets Investment Management LLC boosted its position in Apollo Global Management by 12,086.7% during the 3rd quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after purchasing an additional 367,195 shares during the period. Finally, Holocene Advisors LP grew its stake in Apollo Global Management by 530.9% during the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after buying an additional 338,472 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

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.