Apollo Global Management (NYSE:APO) Given New $149.00 Price Target at Morgan Stanley

Apollo Global Management (NYSE:APO – Get Free Report) had its price target reduced by analysts at Morgan Stanley from $150.00 to $149.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley‘s target price points to a potential upside of 22.49% from the stock’s previous close.

Other analysts have also recently issued reports about the company. TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Wednesday. Jefferies Financial Group decreased their target price on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating for the company in a research report on Tuesday, October 6th. Wells Fargo & Company began coverage on Apollo Global Management in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $127.00 target price for the company. Evercore raised their target price on Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on Apollo Global Management from $150.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.05.

Get Our Latest Stock Report on APO

Apollo Global Management Trading Up 7.1%

Shares of APO traded up $8.10 during trading hours on Wednesday, reaching $121.65. 3,348,759 shares of the company traded hands, compared to its average volume of 4,223,134. The company’s fifty day moving average price is $121.66 and its two-hundred day moving average price is $123.30. The company has a market capitalization of $71.84 billion, a price-to-earnings ratio of 44.66, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management has a 12 month low of $99.56 and a 12 month high of $153.29.

Apollo Global Management (NYSE:APO – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. Equities research analysts predict that Apollo Global Management will post 7.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

Large investors have recently made changes to their positions in the business. Saudi Central Bank raised its stake in Apollo Global Management by 82.6% during the second quarter. Saudi Central Bank now owns 29,346 shares of the financial services provider’s stock valued at $3,472,000 after buying an additional 13,278 shares during the last quarter. Nykredit A S bought a new stake in Apollo Global Management in the second quarter worth $14,515,000. Cooper Financial Group boosted its holdings in Apollo Global Management by 1,194.5% in the third quarter. Cooper Financial Group now owns 48,143 shares of the financial services provider’s stock worth $5,587,000 after acquiring an additional 44,424 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Apollo Global Management in the second quarter worth $172,290,000. Finally, NewEdge Advisors LLC grew its stake in shares of Apollo Global Management by 130.0% in the second quarter. NewEdge Advisors LLC now owns 41,404 shares of the financial services provider’s stock worth $4,899,000 after acquiring an additional 23,400 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management News Summary

Here are the key news stories impacting Apollo Global Management this week:

  • Positive Sentiment: Fee-related earnings reached $802 million in Q3, while origination volume hit a record $114 billion. Apollo also reported $1.07 trillion in assets, reflecting demand for alternative investments. Article: Apollo Global: 3 Key Takeaways for Long-Term Investors
  • Positive Sentiment: Apollo is expanding private-credit origination with a new European lending platform, supporting its goal of significantly growing credit assets. Article: Apollo Taps European Private Credit Markets With New Lending Platform
  • Neutral Sentiment: The company declared a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually. Apollo also plans a $350 million software overhaul for its private-credit trading operations, an investment that could support efficiency but entails costs. Article: Apollo to Spend $350 Million on Software Overhaul
  • Negative Sentiment: Q3 adjusted earnings per share fell short of analyst expectations, and Apollo posted a $1.06 billion net loss attributable to common shareholders, versus a profit a year earlier, due to investment-related losses. The earnings miss and rising expenses are the clearest near-term negatives for the stock. Article: Apollo Global Swings to a Loss on Investment-Related Losses
  • Negative Sentiment: Keefe, Bruyette & Woods lowered its price target from $135 to $130 and maintained a “market perform” rating. The reduced target signals more limited analyst conviction, although it still implies upside from the cited share price. Analyst ratings

About Apollo Global Management

(Get Free Report)

Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.

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