Apollo Global Management (NYSE:APO) Stock Gets Price Target Cut from Royal Bank Of Canada

Apollo Global Management (NYSE:APO – Free Report) had its price objective lowered by Royal Bank Of Canada from $146.00 to $138.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a sector perform rating on the financial services provider’s stock.

Several other research firms have also issued reports on APO. Bank of America reduced their price target on Apollo Global Management from $163.00 to $161.00 in a research report on Monday, October 5th. 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. JPMorgan Chase & Co. increased their target price on Apollo Global Management from $150.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Barclays increased their target price on Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group reduced their target price on Apollo Global Management from $154.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.68.

View Our Latest Analysis on Apollo Global Management

Apollo Global Management Trading Down 0.4%

APO traded down $0.49 during trading on Wednesday, reaching $116.78. 3,319,427 shares of the company’s stock were exchanged, compared to its average volume of 3,667,484. The company’s fifty day moving average price is $120.79 and its 200-day moving average price is $122.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. Apollo Global Management has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The firm has a market capitalization of $68.96 billion, a PE ratio of -63.81, a P/E/G ratio of 1.10 and a beta of 1.51.

Apollo Global Management (NYSE:APO – Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter in the previous year, the firm posted $1.92 EPS. As a group, equities analysts forecast that Apollo Global Management will post 7.96 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Wednesday, November 18th will be issued a $0.5625 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $2.25 annualized dividend and a yield of 1.9%. Apollo Global Management’s dividend payout ratio (DPR) is -122.95%.

Insider Buying and Selling at Apollo Global Management

In other news, insider Whitney Chatterjee sold 7,339 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $117.83, for a total value of $864,754.37. Following the completion of the transaction, the insider owned 129,151 shares of the company’s stock, valued at $15,217,862.33. The trade was a 5.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 8.30% of the company’s stock.

Institutional Trading of Apollo Global Management

Hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Apollo Global Management by 4.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider’s stock valued at $669,372,000 after acquiring an additional 234,517 shares during the period. Legal & General Group Plc bought a new stake in shares of Apollo Global Management in the second quarter worth about $459,987,000. Bank of New York Mellon Corp bought a new stake in shares of Apollo Global Management in the second quarter worth about $336,644,000. Temasek Holdings Private Ltd increased its holdings in shares of Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after acquiring an additional 1,614,813 shares in the last quarter. Finally, Curated Wealth Partners LLC raised its position in shares of Apollo Global Management by 91.8% during the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock worth $255,887,000 after purchasing an additional 1,055,818 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Key Stories Impacting Apollo Global Management

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

  • Positive Sentiment: JPMorgan Chase raised its price target on Apollo, offering a counterpoint to recent analyst reductions. The available report does not specify the new target. Article: Apollo Global Management Stock Gets Price Target Increase from JPMorgan Chase
  • Positive Sentiment: UBS and Argus both maintained “buy” ratings despite lowering their targets: UBS cut its target from $163 to $160, while Argus reduced its target from $160 to $140. Their continued buy ratings indicate both firms still see potential upside from the referenced $116.78 share price. Read More. · Read More.
  • Neutral Sentiment: Apollo and Goldman Sachs are reportedly seeking buyers for a roughly $40 billion SpaceX AI-chip financing deal. The potential transaction could create financing opportunities, but it remains a reported effort to place the deal, not a confirmed completed investment. Article: Goldman, Apollo in talks to sell SpaceX’s AI deal
  • Neutral Sentiment: Nvidia is reportedly interested in Apollo’s struggling telecom sites as potential data-center locations. A sale or other deal could help monetize the assets, though no agreement was reported. Article: Nvidia Eyes Apollo’s Struggling Telecom Sites
  • Negative Sentiment: RBC issued a pessimistic forecast, while Keefe, Bruyette & Woods and Barclays lowered their expectations for APO. Together with the Argus and UBS target cuts, the revisions point to more cautious analyst sentiment, even as some firms retain buy ratings. Read More. · Read More. · Read More.
  • Negative Sentiment: A report highlighted a 6.7% one-session decline in Apollo shares, underscoring recent volatility; the article listing did not identify a specific cause for that drop. Article: Apollo Global Management Drops 6.7%

Apollo Global Management Company Profile

(Get Free Report)

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform.

Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.

Further Reading

Analyst Recommendations for Apollo Global Management (NYSE:APO)

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