Wells Fargo & Company Lowers Apollo Global Management (NYSE:APO) Price Target to $177.00

Apollo Global Management (NYSE:APO) had its price target lowered by Wells Fargo & Company from $187.00 to $177.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on APO. Morgan Stanley raised their price target on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Piper Sandler raised their price target on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. TD Cowen raised their price target on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods lowered their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Barclays increased their price objective on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $165.21.

Apollo Global Management Trading Up 1.0 %

Shares of Apollo Global Management stock opened at $144.77 on Thursday. The business has a fifty day simple moving average of $154.54 and a two-hundred day simple moving average of $151.55. Apollo Global Management has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a market capitalization of $82.59 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Insider Buying and Selling at Apollo Global Management

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 transaction, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of APO. Geode Capital Management LLC grew its position in Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock valued at $1,065,615,000 after purchasing an additional 1,739,807 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after purchasing an additional 1,460,689 shares in the last quarter. 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, 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.