Apollo Global Management (NYSE:APO) Raised to Overweight at Morgan Stanley

Apollo Global Management (NYSE:APO) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, MarketBeat.com reports. The firm presently has a $180.00 price target on the financial services provider’s stock, up from their prior price target of $151.00. Morgan Stanley’s price target points to a potential upside of 38.50% from the stock’s previous close.

A number of other research firms have also weighed in on APO. Citigroup cut their price objective on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Apollo Global Management in a research note on Monday. Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Barclays lifted their price objective on Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.08.

Apollo Global Management Price Performance

Shares of APO opened at $129.96 on Thursday. The company has a market cap of $74.34 billion, a P/E ratio of 24.29, a PEG ratio of 1.42 and a beta of 1.63. Apollo Global Management has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average price is $129.78 and its 200 day moving average price is $135.91.

Insider Activity at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds have recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC purchased a new stake in shares of Apollo Global Management during the 2nd quarter worth approximately $25,000. GW&K Investment Management LLC raised its stake in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in Apollo Global Management by 99.0% in the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Activest Wealth Management boosted its stake in Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Apollo Global Management during the third quarter worth about $28,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.