Apollo Global Management (NYSE:APO) Stock Gets Price Target Reduction from UBS Group

Apollo Global Management (NYSE:APO) had its price objective cut by UBS Group from $172.00 to $163.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. Evercore raised their target price on shares of Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. TD Cowen decreased their price target on shares of Apollo Global Management from $159.00 to $154.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank Of Canada increased their price target on Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. HSBC began coverage on Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective on the stock. Finally, Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.60.

Apollo Global Management Trading Down 1.1%

NYSE APO opened at $112.14 on Tuesday. Apollo Global Management has a one year low of $99.56 and a one year high of $153.29. The company’s 50 day moving average price is $127.09 and its 200 day moving average price is $125.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $66.22 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 1.01 and a beta of 1.58.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the firm earned $1.92 earnings per share. On average, sell-side analysts predict that Apollo Global Management will post 8.00 EPS for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were given a $0.5625 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 annualized dividend and a yield of 2.0%. Apollo Global Management’s dividend payout ratio (DPR) is 82.42%.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. NFSG Corp increased its position in shares of Apollo Global Management by 303.4% during the third quarter. NFSG Corp now owns 1,069 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 804 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Apollo Global Management by 6.5% in the third quarter. V Square Quantitative Management LLC now owns 11,213 shares of the financial services provider’s stock worth $1,301,000 after acquiring an additional 687 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Apollo Global Management by 196.8% in the third quarter. State of Alaska Department of Revenue now owns 134,113 shares of the financial services provider’s stock worth $15,565,000 after acquiring an additional 88,922 shares in the last quarter. Curated Wealth Partners LLC boosted its holdings in Apollo Global Management by 91.8% in the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after purchasing an additional 1,055,818 shares during the last quarter. Finally, Nvwm LLC boosted its holdings in Apollo Global Management by 8,327.8% in the third quarter. Nvwm LLC now owns 6,658 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 6,579 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.