Barclays Raises Apollo Global Management (NYSE:APO) Price Target to $133.00

Apollo Global Management (NYSE:APO) had its target price lifted by Barclays from $122.00 to $133.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Wells Fargo & Company lifted their price objective on shares of Apollo Global Management from $110.00 to $118.00 and gave the company an overweight rating in a research note on Friday, February 9th. BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an outperform rating in a research note on Friday, April 5th. JPMorgan Chase & Co. began coverage on shares of Apollo Global Management in a research note on Wednesday, February 28th. They set an overweight rating and a $122.00 price objective for the company. Finally, Citigroup lifted their price objective on shares of Apollo Global Management from $111.00 to $125.00 and gave the company a buy rating in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $110.62.

Apollo Global Management Stock Down 1.1 %

NYSE:APO opened at $112.96 on Monday. The company has a market cap of $64.18 billion, a PE ratio of 13.43, a P/E/G ratio of 0.98 and a beta of 1.63. Apollo Global Management has a twelve month low of $57.50 and a twelve month high of $117.15. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $110.89 and its two-hundred day moving average is $97.67.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $823.27 million. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. Analysts anticipate that Apollo Global Management will post 7.51 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, February 16th. Apollo Global Management’s payout ratio is 20.45%.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 450,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the completion of the sale, the insider now owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Whitney Chatterjee sold 12,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $111.10, for a total value of $1,333,200.00. Following the completion of the sale, the insider now owns 123,901 shares of the company’s stock, valued at $13,765,401.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon D. Black sold 450,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the completion of the sale, the insider now directly owns 42,604,773 shares of the company’s stock, valued at approximately $4,716,774,418.83. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock valued at $158,226,960 over the last 90 days. 8.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds have recently modified their holdings of APO. Vanguard Group Inc. grew its holdings in shares of Apollo Global Management by 87.8% in the first quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock valued at $2,316,818,000 after purchasing an additional 17,476,830 shares during the period. Norges Bank purchased a new position in Apollo Global Management during the fourth quarter worth about $586,016,000. Mariner LLC purchased a new position in Apollo Global Management during the first quarter worth about $353,603,000. State Street Corp boosted its stake in Apollo Global Management by 91.1% during the first quarter. State Street Corp now owns 8,032,420 shares of the financial services provider’s stock worth $497,930,000 after buying an additional 3,829,740 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Apollo Global Management during the first quarter worth about $217,878,000. 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 and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.