Apollo Global Management (NYSE:APO) Given New $197.00 Price Target at Wells Fargo & Company

Apollo Global Management (NYSE:APO) had its price target upped by Wells Fargo & Company from $164.00 to $197.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

APO has been the topic of several other reports. BMO Capital Markets raised their price target on shares of Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group raised shares of Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Piper Sandler began coverage on shares of Apollo Global Management in a research note on Tuesday, November 19th. They set an “overweight” rating and a $188.00 target price on the stock. Citigroup increased their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Redburn Atlantic began coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $160.89.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $176.40 on Thursday. 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 has a 1 year low of $89.76 and a 1 year high of $189.49. The firm has a market capitalization of $99.81 billion, a PE ratio of 18.43, a P/E/G ratio of 1.84 and a beta of 1.63. The business’s 50 day moving average price is $157.09 and its 200-day moving average price is $130.47.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a yield of 1.05%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s payout ratio is presently 19.33%.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the sale, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock worth $34,186,128 in the last quarter. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

Several institutional investors have recently added to or reduced their stakes in APO. Geode Capital Management LLC grew its holdings in shares of Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after purchasing an additional 254,268 shares during the last quarter. Legal & General Group Plc grew its stake in Apollo Global Management by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after buying an additional 126,859 shares during the last quarter. TD Asset Management Inc increased its position in Apollo Global Management by 3.8% during the second quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock worth $318,522,000 after buying an additional 97,797 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after buying an additional 383,557 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Apollo Global Management by 0.4% in the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after acquiring an additional 4,892 shares during the period. Hedge funds and other 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.