Apollo Global Management (APO) Raised to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of Apollo Global Management (NYSE:APO) from an equal weight rating to an overweight rating in a research note published on Wednesday morning, Marketbeat reports. Morgan Stanley currently has $42.00 target price on the financial services provider’s stock.

Several other brokerages also recently issued reports on APO. ValuEngine upgraded shares of Apollo Global Management from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Apollo Global Management from a hold rating to a buy rating and set a $37.00 price objective for the company in a research report on Tuesday, December 19th. Credit Suisse Group raised their price objective on shares of Apollo Global Management from $32.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, November 2nd. Citigroup raised their price objective on shares of Apollo Global Management from $35.50 to $38.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Finally, Wells Fargo & Co reaffirmed an outperform rating and set a $39.00 target price (up from $34.00) on shares of Apollo Global Management in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $34.46.

Shares of Apollo Global Management (NYSE:APO) opened at $34.48 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6,670.00, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.16 and a beta of 1.22. Apollo Global Management has a 1 year low of $20.20 and a 1 year high of $35.01.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.51. The firm had revenue of $645.20 million during the quarter, compared to the consensus estimate of $467.72 million. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The business’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. sell-side analysts anticipate that Apollo Global Management will post 2.99 EPS for the current fiscal year.

In other Apollo Global Management news, major shareholder Tiger Global Management Llc bought 43,714 shares of the stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $29.18 per share, with a total value of $1,275,574.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.11% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in APO. Bank of New York Mellon Corp bought a new position in Apollo Global Management in the second quarter valued at approximately $240,000. JPMorgan Chase & Co. increased its stake in Apollo Global Management by 48.3% in the second quarter. JPMorgan Chase & Co. now owns 5,241,867 shares of the financial services provider’s stock valued at $138,648,000 after acquiring an additional 1,707,154 shares during the last quarter. Quinn Opportunity Partners LLC bought a new position in Apollo Global Management in the second quarter valued at approximately $447,000. WESPAC Advisors LLC increased its stake in Apollo Global Management by 74.2% in the second quarter. WESPAC Advisors LLC now owns 50,939 shares of the financial services provider’s stock valued at $1,347,000 after acquiring an additional 21,691 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Apollo Global Management by 10.5% in the second quarter. Wells Fargo & Company MN now owns 373,218 shares of the financial services provider’s stock valued at $9,872,000 after acquiring an additional 35,377 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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Apollo Global Management Company Profile

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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