Wells Fargo & Company Raises Apollo Global Management (NYSE:APO) Price Target to $164.00

by · The Markets Daily

Apollo Global Management (NYSE:APO – Free Report) had its target price upped by Wells Fargo & Company from $149.00 to $164.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on APO. JPMorgan Chase & Co. lifted their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wolfe Research began coverage on Apollo Global Management in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 target price for the company. Argus dropped their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Finally, TD Cowen raised their price objective on Apollo Global Management from $135.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $150.83.

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Apollo Global Management Price Performance

Shares of NYSE APO opened at $162.00 on Wednesday. Apollo Global Management has a twelve month low of $83.88 and a twelve month high of $166.72. The company has a market capitalization of $92.26 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.80 and a beta of 1.59. 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 firm has a 50-day moving average of $132.07 and a two-hundred day moving average of $120.75.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a $0.463 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, November 18th. Apollo Global Management’s payout ratio is 19.33%.

Institutional Trading of Apollo Global Management

Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC raised its holdings in Apollo Global Management by 193.3% in the 1st quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock worth $5,755,000 after acquiring an additional 33,731 shares during the period. PGGM Investments acquired a new stake in shares of Apollo Global Management in the first quarter valued at about $840,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Apollo Global Management by 38.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 34,709 shares of the financial services provider’s stock worth $3,903,000 after purchasing an additional 9,708 shares during the period. Mackenzie Financial Corp lifted its position in shares of Apollo Global Management by 4.5% during the 2nd quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider’s stock worth $21,119,000 after purchasing an additional 7,679 shares during the last quarter. Finally, Forsta AP Fonden boosted its stake in Apollo Global Management by 8.4% during the 3rd quarter. Forsta AP Fonden now owns 143,600 shares of the financial services provider’s stock valued at $17,937,000 after purchasing an additional 11,100 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Company Profile

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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.

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