Apollo Global Management (NYSE:APO – Get Free Report) had its target price dropped by Barclays from $157.00 to $156.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 29.82% from the stock’s previous close.
A number of other research firms have also recently issued reports on APO. Piper Sandler reissued an “overweight” rating and set a $145.00 target price on shares of Apollo Global Management in a research note on Wednesday. Evercore lifted their price target on shares of Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. Keefe, Bruyette & Woods reduced their price target on shares of Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday. UBS Group lowered their price objective on shares of Apollo Global Management from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Tuesday, October 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.80.
Apollo Global Management Stock Up 5.8%
Shares of NYSE APO traded up $6.62 during mid-day trading on Wednesday, reaching $120.17. 2,255,372 shares of the company’s stock were exchanged, compared to its average volume of 4,218,688. The firm has a market capitalization of $70.97 billion, a price-to-earnings ratio of 43.94, a PEG ratio of 1.10 and a beta of 1.51. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $121.66 and a 200 day simple moving average of $123.30. Apollo Global Management has a twelve month low of $99.56 and a twelve month high of $153.29.
Apollo Global Management (NYSE:APO – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share 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 business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the firm earned $1.92 EPS. As a group, equities analysts expect that Apollo Global Management will post 7.96 EPS for the current fiscal year.
Insider Transactions at Apollo Global Management
In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was 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. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.30% 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 APO. Continuum Advisory LLC bought a new position in Apollo Global Management in the second quarter valued at $30,000. Keating Financial Advisory Services Inc. acquired a new stake in Apollo Global Management in the 2nd quarter valued at $31,000. Avion Wealth lifted its position in Apollo Global Management by 159.2% during the 3rd quarter. Avion Wealth now owns 267 shares of the financial services provider’s stock worth $31,000 after buying an additional 164 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Apollo Global Management during the 2nd quarter worth about $38,000. Finally, Bfsg LLC boosted its stake in shares of Apollo Global Management by 58.4% during the 3rd quarter. Bfsg LLC now owns 331 shares of the financial services provider’s stock worth $38,000 after buying an additional 122 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Key Apollo Global Management News
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
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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