Apollo Global Management (NYSE:APO) Price Target Raised to $146.00

Apollo Global Management (NYSE:APO) had its price objective hoisted by equities research analysts at Evercore from $145.00 to $146.00 in a note issued to investors on Thursday. Evercore’s target price suggests a potential upside of 22.99% from the stock’s current price.

Several other brokerages have also weighed in on APO. Piper Sandler cut their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Barclays lifted their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Apollo Global Management from $150.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. HSBC assumed coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, Wall Street Zen raised Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.30.

Apollo Global Management Stock Performance

Shares of APO opened at $118.71 on Thursday. 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 1 year low of $99.56 and a 1 year high of $153.29. The firm has a fifty day moving average of $128.27 and a 200-day moving average of $124.96. The company has a market cap of $70.10 billion, a price-to-earnings ratio of 43.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.58.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the company earned $1.92 earnings per share. As a group, equities analysts anticipate that Apollo Global Management will post 8.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.

Institutional Trading of Apollo Global Management

Several institutional investors have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. grew its position in Apollo Global Management by 2,113.9% during the third quarter. Armstrong Advisory Group Inc. now owns 28,869 shares of the financial services provider’s stock valued at $3,351,000 after purchasing an additional 27,565 shares in the last quarter. Marquette Asset Management LLC raised its holdings in shares of Apollo Global Management by 660.6% during the third quarter. Marquette Asset Management LLC now owns 502 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 436 shares in the last quarter. Valley Wealth Managers Inc. grew its stake in Apollo Global Management by 7.4% in the third quarter. Valley Wealth Managers Inc. now owns 5,065 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 350 shares in the last quarter. Wedmont Private Capital increased its position in Apollo Global Management by 126.8% in the 3rd quarter. Wedmont Private Capital now owns 12,671 shares of the financial services provider’s stock worth $1,471,000 after purchasing an additional 7,083 shares during the last quarter. Finally, Central Bank & Trust Co. raised its stake in shares of Apollo Global Management by 4.3% during the 3rd quarter. Central Bank & Trust Co. now owns 9,534 shares of the financial services provider’s stock worth $1,107,000 after purchasing an additional 392 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.