Apollo Global Management (NYSE:APO) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Apollo Global Management (NYSE:APO) from a sell rating to a strong sell rating in a research report released on Saturday.

APO has been the topic of a number of other research reports. Royal Bank Of Canada cut their target price on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating on the stock in a research note on Monday, July 13th. Piper Sandler decreased their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Morgan Stanley dropped their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Weiss Ratings lowered Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, TD Cowen decreased their target price on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $149.08.

Apollo Global Management Trading Up 1.4%

Shares of APO opened at $124.32 on Friday. The company’s fifty day simple moving average is $125.98 and its 200-day simple moving average is $123.76. The company has a market cap of $71.68 billion, a P/E ratio of 79.19, a P/E/G ratio of 1.07 and a beta of 1.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management has a twelve month low of $99.56 and a twelve month high of $153.29.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. As a group, analysts expect that Apollo Global Management will post 8.19 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s payout ratio is presently 143.31%.

Insider Activity

In related news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

A number of institutional investors and hedge funds have recently bought and sold shares of APO. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management during the first quarter valued at $29,000. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Apollo Global Management by 484.1% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Osbon Capital Management LLC bought a new stake in shares of Apollo Global Management in the fourth quarter valued at about $36,000. Finally, Physician Wealth Advisors Inc. lifted its stake in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 96 shares during the period. 77.06% of the stock is owned by institutional investors.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.