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

Apollo Global Management (NYSE:APO) had its price objective trimmed by Piper Sandler from $202.00 to $193.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley raised their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. TD Cowen upped their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods decreased their price target on shares of 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. Finally, BMO Capital Markets upped their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.74.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $141.68 on Wednesday. The stock has a market capitalization of $80.83 billion, a P/E ratio of 19.38, a P/E/G ratio of 1.17 and a beta of 1.66. The company’s fifty day moving average price is $150.71 and its 200 day moving average price is $153.85. 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 has a 1 year low of $95.11 and a 1 year high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 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

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

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors have recently modified their holdings of APO. MassMutual Private Wealth & Trust FSB boosted its holdings in Apollo Global Management by 33.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,099 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 278 shares during the period. 111 Capital purchased a new position in shares of Apollo Global Management in the 4th quarter valued at about $344,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Apollo Global Management by 30.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,477 shares of the financial services provider’s stock worth $1,730,000 after buying an additional 2,426 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $21,911,000. Finally, Siemens Fonds Invest GmbH raised its holdings in Apollo Global Management by 251.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 15,150 shares of the financial services provider’s stock valued at $2,502,000 after acquiring an additional 10,843 shares in the last quarter. Institutional investors and hedge funds 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.