Apollo Global Management (NYSE:APO) Given New $149.00 Price Target at Wells Fargo & Company

Apollo Global Management (NYSE:APO) had its price objective upped by Wells Fargo & Company from $148.00 to $149.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

APO has been the topic of a number of other research reports. StockNews.com lowered shares of Apollo Global Management from a hold rating to a sell rating in a report on Thursday, August 8th. Barclays increased their target price on shares of Apollo Global Management from $128.00 to $148.00 and gave the stock an overweight rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Apollo Global Management from $129.00 to $124.00 and set a buy rating on the stock in a report on Thursday, August 15th. BMO Capital Markets increased their price objective on Apollo Global Management from $123.00 to $138.00 and gave the stock an outperform rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Apollo Global Management from $129.00 to $143.00 and gave the company an overweight rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $138.06.

Apollo Global Management Stock Up 1.7 %

Shares of NYSE:APO opened at $140.21 on Wednesday. Apollo Global Management has a 12-month low of $77.11 and a 12-month high of $140.35. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $116.77 and its 200-day moving average price is $115.81. The stock has a market capitalization of $79.66 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period last year, the firm earned $1.54 earnings per share. On average, equities analysts anticipate that Apollo Global Management will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s payout ratio is currently 20.49%.

Insider Buying and Selling at Apollo Global Management

In related news, Director Pauline Richards purchased 2,351 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the transaction, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Creative Planning grew its stake in shares of Apollo Global Management by 5.9% in the third quarter. Creative Planning now owns 41,784 shares of the financial services provider’s stock worth $5,219,000 after acquiring an additional 2,316 shares during the last quarter. Capricorn Fund Managers Ltd grew its position in Apollo Global Management by 29.3% during the 3rd quarter. Capricorn Fund Managers Ltd now owns 9,105 shares of the financial services provider’s stock valued at $1,137,000 after purchasing an additional 2,065 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Apollo Global Management during the 3rd quarter valued at about $35,000. Ameliora Wealth Management Ltd. raised its holdings in Apollo Global Management by 1.9% in the third quarter. Ameliora Wealth Management Ltd. now owns 22,390 shares of the financial services provider’s stock worth $2,797,000 after buying an additional 410 shares during the last quarter. Finally, Factory Mutual Insurance Co. raised its holdings in Apollo Global Management by 17.2% in the third quarter. Factory Mutual Insurance Co. now owns 140,600 shares of the financial services provider’s stock worth $17,562,000 after buying an additional 20,600 shares during the last quarter. 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.