Apollo Global Management (NYSE:APO) Given New $160.00 Price Target at UBS Group

Apollo Global Management (NYSE:APO) had its price objective reduced by UBS Group from $163.00 to $160.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities research analysts have also commented on the company. Barclays lowered their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore raised their price objective on shares of Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Apollo Global Management from $153.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America decreased their target price on shares of Apollo Global Management from $163.00 to $161.00 in a research note on Monday, October 5th. Finally, Rothschild & Co Redburn boosted their target price on shares of Apollo Global Management from $171.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $146.74.

Apollo Global Management Stock Performance

Shares of APO stock opened at $117.04 on Thursday. The stock has a market cap of $69.11 billion, a PE ratio of -63.95, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. The business has a 50-day simple moving average of $121.12 and a 200-day simple moving average of $123.06. The company has a quick ratio of 1.70, a current ratio of 1.41 and a debt-to-equity ratio of 0.42. Apollo Global Management has a 52-week low of $99.56 and a 52-week high of $153.29.

Apollo Global Management (NYSE:APO) last posted 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a positive return on equity of 12.11% and a negative net margin of 2.98%. During the same period last year, the business earned $1.92 earnings per share. On average, equities analysts expect that Apollo Global Management will post 7.96 EPS for the current year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Wednesday, November 18th will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management’s dividend payout ratio is presently 82.42%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the firm’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 directly owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This trade 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 is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apollo Global Management by 4.3% in the 2nd 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 purchasing an additional 234,517 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $459,987,000. Bank of New York Mellon Corp acquired a new stake in shares of Apollo Global Management during the 2nd quarter worth approximately $336,644,000. Temasek Holdings Private Ltd increased its holdings in shares of Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after buying an additional 1,614,813 shares during the last quarter. Finally, Curated Wealth Partners LLC increased its holdings in shares of Apollo Global Management by 91.8% during the 3rd quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock worth $255,887,000 after buying an additional 1,055,818 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

More Apollo Global Management News

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

• Positive Sentiment: JPMorgan raised its price target to $157 from $153 and maintained an “overweight” rating, signaling confidence in Apollo’s potential. JPMorgan price-target article
• Positive Sentiment: Apollo reported record quarterly originations of $114 billion and assets under management of $1.07 trillion, which may support its growth and fee-generating capacity. Apollo originations and AUM article
• Neutral Sentiment: Goldman Sachs and Apollo are reportedly seeking buyers for a roughly $40 billion SpaceX AI-chip financing deal. The potential mandate could create a sizable opportunity, but the report describes talks rather than a completed transaction. SpaceX financing article
• Neutral Sentiment: A report says Nvidia is considering Apollo’s struggling telecom sites as a way to address data-center constraints. Any benefit to Apollo would depend on whether a deal proceeds and how the sites are used. Nvidia telecom-sites article
• Negative Sentiment: RBC issued a pessimistic forecast, while Keefe, Bruyette & Woods and Barclays lowered their price targets. The cluster of cautious analyst actions may be weighing on sentiment, despite JPMorgan’s increase. RBC outlook article KBW target article Barclays target article

Apollo Global Management Company Profile

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.