Apollo Global Management (NYSE:APO) Stock Gets Price Target Reduction from Barclays

Apollo Global Management (NYSE:APO) had its price objective lowered by equities research analysts at Barclays from $157.00 to $156.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 29.82% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Bank of America lowered their price target on shares of Apollo Global Management from $163.00 to $161.00 in a report on Monday, October 5th. Evercore increased their price objective on Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. Morgan Stanley cut their price target on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price on shares of Apollo Global Management in a research note on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.80.

Apollo Global Management Stock Up 5.8%

Shares of APO traded up $6.62 during trading hours on Wednesday, reaching $120.17. The company’s stock had a trading volume of 2,255,372 shares, compared to its average volume of 4,218,688. The company has a 50 day moving average of $121.66 and a two-hundred day moving average of $123.30. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The firm has a market cap of $70.97 billion, a price-to-earnings ratio of 43.94, a P/E/G ratio of 1.10 and a beta of 1.51. Apollo Global Management has a 1-year low of $99.56 and a 1-year high of $153.29.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. As a group, research analysts predict that Apollo Global Management will post 7.96 EPS for the current fiscal year.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.30% of the company’s stock.

Institutional Trading of Apollo Global Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avion Wealth boosted its stake in Apollo Global Management by 159.2% during the 3rd quarter. Avion Wealth now owns 267 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 164 shares during the last quarter. Hohimer Wealth Management LLC bought a new stake in Apollo Global Management in the third quarter valued at approximately $816,000. Candriam S.C.A. increased its stake in Apollo Global Management by 196.5% in the third quarter. Candriam S.C.A. now owns 125,089 shares of the financial services provider’s stock valued at $14,518,000 after purchasing an additional 82,894 shares in the last quarter. Ethic Inc. increased its stake in Apollo Global Management by 19.5% in the third quarter. Ethic Inc. now owns 52,942 shares of the financial services provider’s stock valued at $5,908,000 after purchasing an additional 8,650 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in Apollo Global Management by 3.1% in the third quarter. 180 Wealth Advisors LLC now owns 5,742 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 171 shares during the period. Institutional investors own 77.06% of the company’s stock.

Trending Headlines about Apollo Global Management

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

• Positive Sentiment: Fee-related earnings reached $802 million in Q3, while origination volume hit a record $114 billion. Apollo also reported $1.07 trillion in assets, reflecting demand for alternative investments. Article: Apollo Global: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Apollo is expanding private-credit origination with a new European lending platform, supporting its goal of significantly growing credit assets. Article: Apollo Taps European Private Credit Markets With New Lending Platform
• Neutral Sentiment: The company declared a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually. Apollo also plans a $350 million software overhaul for its private-credit trading operations, an investment that could support efficiency but entails costs. Article: Apollo to Spend $350 Million on Software Overhaul
• Negative Sentiment: Q3 adjusted earnings per share fell short of analyst expectations, and Apollo posted a $1.06 billion net loss attributable to common shareholders, versus a profit a year earlier, due to investment-related losses. The earnings miss and rising expenses are the clearest near-term negatives for the stock. Article: Apollo Global Swings to a Loss on Investment-Related Losses
• Negative Sentiment: Keefe, Bruyette & Woods lowered its price target from $135 to $130 and maintained a “market perform” rating. The reduced target signals more limited analyst conviction, although it still implies upside from the cited share price. Analyst ratings

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.