Wells Fargo & Company Begins Coverage on Apollo Global Management (NYSE:APO)

Analysts at Wells Fargo & Company began coverage on shares of Apollo Global Management (NYSE:APO) in a research note issued on Friday, Benzinga reports. The firm set an “equal weight” rating and a $127.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 11.19% from the company’s previous close.

Several other research analysts have also recently issued reports on APO. Royal Bank Of Canada upped their price target on Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. HSBC started coverage on Apollo Global Management in a research note on Monday, July 20th. They set a “buy” rating and a $145.00 price objective for the company. BMO Capital Markets cut their target price on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research report on Monday, July 13th. Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Finally, UBS Group increased their price target on Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.36.

Apollo Global Management Stock Performance

Shares of APO opened at $114.22 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The firm’s 50 day moving average is $129.13 and its 200-day moving average is $124.80. Apollo Global Management has a 12-month low of $99.56 and a 12-month high of $153.29. The stock has a market capitalization of $67.45 billion, a P/E ratio of 41.84, a P/E/G ratio of 1.02 and a beta of 1.58.

Apollo Global Management (NYSE:APO) last released 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period in the prior year, the company earned $1.92 earnings per share. Equities research analysts anticipate that Apollo Global Management will post 8.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Osbon Capital Management LLC acquired a new position in shares of Apollo Global Management in the fourth quarter worth $36,000. Steigerwald Gordon & Koch Inc. boosted its position in Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Continuum Advisory LLC acquired a new stake in Apollo Global Management during the second quarter valued at $30,000. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management in the first quarter valued at about $29,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Apollo Global Management in the second quarter valued at about $31,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.