Apollo Global Management (NYSE:APO) Given New $69.00 Price Target at Morgan Stanley

Apollo Global Management (NYSE:APOGet Rating) had its price objective lifted by Morgan Stanley from $60.00 to $69.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

APO has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apollo Global Management from $81.00 to $83.00 and gave the company a buy rating in a research report on Tuesday, November 15th. UBS Group reduced their target price on shares of Apollo Global Management from $60.00 to $55.00 and set a neutral rating for the company in a research note on Wednesday, October 19th. Barclays boosted their target price on shares of Apollo Global Management from $78.00 to $85.00 and gave the company an overweight rating in a research note on Thursday, January 12th. TheStreet lowered shares of Apollo Global Management from a c rating to a d+ rating in a research note on Wednesday, November 2nd. Finally, Oppenheimer boosted their target price on shares of Apollo Global Management to $74.00 in a research note on Wednesday, December 14th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $76.45.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $67.70 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.08. Apollo Global Management has a fifty-two week low of $45.62 and a fifty-two week high of $71.72. The firm has a 50-day simple moving average of $65.05 and a 200 day simple moving average of $58.59. The company has a market cap of $38.74 billion, a PE ratio of -12.00, a P/E/G ratio of 0.58 and a beta of 1.72.

Apollo Global Management (NYSE:APOGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. Apollo Global Management had a negative net margin of 48.54% and a positive return on equity of 64.38%. The business had revenue of $670.50 million during the quarter, compared to the consensus estimate of $621.08 million. On average, sell-side analysts anticipate that Apollo Global Management will post 5 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Thursday, November 17th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Wednesday, November 16th. Apollo Global Management’s dividend payout ratio is currently -28.37%.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $64.88, for a total value of $1,297,600.00. Following the sale, the chief financial officer now directly owns 431,486 shares in the company, valued at approximately $27,994,811.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.40% of the company’s stock.

Institutional Trading of Apollo Global Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank raised its holdings in shares of Apollo Global Management by 4.0% in the 3rd quarter. Huntington National Bank now owns 4,159 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 159 shares in the last quarter. Ten Capital Wealth Advisors LLC raised its holdings in shares of Apollo Global Management by 14.1% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 1,335 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 165 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Apollo Global Management by 31.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 732 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 177 shares in the last quarter. Cowen Prime Advisors LLC raised its holdings in shares of Apollo Global Management by 0.5% in the 2nd quarter. Cowen Prime Advisors LLC now owns 46,064 shares of the financial services provider’s stock worth $2,233,000 after purchasing an additional 220 shares in the last quarter. Finally, Cannell & Co. raised its holdings in shares of Apollo Global Management by 0.6% in the 3rd quarter. Cannell & Co. now owns 35,678 shares of the financial services provider’s stock worth $1,659,000 after purchasing an additional 229 shares in the last quarter. 68.98% of the stock is currently owned by institutional investors.

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 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.

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Analyst Recommendations for Apollo Global Management (NYSE:APO)

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