Apollo Global Management (NYSE:APO) Coverage Initiated at Raymond James

Research analysts at Raymond James initiated coverage on shares of Apollo Global Management (NYSE:APO) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set a “strong-buy” rating and a $173.00 price target on the financial services provider’s stock. Raymond James’ price target would indicate a potential upside of 37.33% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their price target on Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley lifted their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods reduced their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Piper Sandler lowered their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Finally, TD Cowen cut their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $157.95.

Apollo Global Management Stock Performance

APO opened at $125.97 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $71.87 billion, a PE ratio of 17.23, a P/E/G ratio of 1.17 and a beta of 1.66. The business has a fifty day simple moving average of $141.67 and a 200-day simple moving average of $153.45. Apollo Global Management has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the transaction, the insider now owns 621,754 shares of the company’s stock, valued at $69,257,178.06. The trade was a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. 8.50% of the stock is owned by insiders.

Institutional Trading of Apollo Global Management

Several hedge funds and other institutional investors have recently bought and sold shares of APO. Ellevest Inc. lifted its stake in shares of Apollo Global Management by 1.5% in the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock valued at $735,000 after buying an additional 67 shares during the period. SRS Capital Advisors Inc. raised its holdings in Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after acquiring an additional 71 shares in the last quarter. Vivaldi Capital Management LP lifted its position in shares of Apollo Global Management by 2.1% in the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock worth $566,000 after acquiring an additional 71 shares during the period. Tower Wealth Partners Inc. grew its holdings in shares of Apollo Global Management by 4.4% during the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 74 shares in the last quarter. Finally, Sfmg LLC increased its position in shares of Apollo Global Management by 1.1% during the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock valued at $902,000 after purchasing an additional 79 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.