Apollo Global Management (NYSE:APO) Price Target Cut to $193.00 by Analysts at Piper Sandler

Apollo Global Management (NYSE:APO) had its price target reduced by Piper Sandler from $202.00 to $193.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

APO has been the subject of several other research reports. Barclays boosted their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Wells Fargo & Company reduced their price target on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Morgan Stanley raised their price objective on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. BMO Capital Markets boosted their target price on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods dropped their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.74.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $141.68 on Wednesday. The stock’s 50-day simple moving average is $150.71 and its 200-day simple moving average is $153.85. The firm has a market capitalization of $80.83 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management has a fifty-two week low of $95.11 and a fifty-two 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors have recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new stake in Apollo Global Management during the fourth quarter worth $25,000. Hopwood Financial Services Inc. acquired a new position in shares of Apollo Global Management during the 4th quarter worth $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth about $34,000. Byrne Asset Management LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at about $37,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Apollo Global Management during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Company Profile

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.