Apollo Global Management (NYSE:APO) Price Target Raised to $123.00

Apollo Global Management (NYSE:APO) had its price objective raised by analysts at JPMorgan Chase & Co. from $122.00 to $123.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.04% from the stock’s current price.

Several other equities research analysts have also commented on APO. BMO Capital Markets upped their target price on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Wells Fargo & Company boosted their price target on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Morgan Stanley boosted their target price on shares of Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup upped their target price on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, TD Cowen initiated coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They set an “outperform” rating and a $115.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.33.

Apollo Global Management Trading Down 0.9 %

Apollo Global Management stock traded down $0.97 during midday trading on Wednesday, hitting $112.80. 412,524 shares of the stock were exchanged, compared to its average volume of 2,332,367. The stock has a market capitalization of $64.09 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.92 and a beta of 1.63. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. Apollo Global Management has a fifty-two week low of $57.50 and a fifty-two week high of $117.15. The stock’s 50-day simple moving average is $111.28 and its 200 day simple moving average is $98.88.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. The firm had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $823.27 million. On average, equities analysts anticipate that Apollo Global Management will post 7.44 EPS for the current year.

Insider Activity at Apollo Global Management

In other news, insider Whitney Chatterjee sold 12,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total transaction of $1,333,200.00. Following the completion of the transaction, the insider now directly owns 123,901 shares in the company, valued at $13,765,401.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Whitney Chatterjee sold 12,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total value of $1,333,200.00. Following the sale, the insider now directly owns 123,901 shares of the company’s stock, valued at $13,765,401.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leon D. Black sold 450,000 shares of Apollo Global Management stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the sale, the insider now owns 42,604,773 shares in the company, valued at approximately $4,716,774,418.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,426,000 shares of company stock worth $158,226,960. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APO. Norges Bank purchased a new position in Apollo Global Management during the 4th quarter worth approximately $586,016,000. TD Asset Management Inc lifted its holdings in Apollo Global Management by 4,248.9% in the fourth quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after buying an additional 2,402,686 shares during the period. FMR LLC lifted its position in Apollo Global Management by 18.9% in the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after acquiring an additional 1,584,201 shares in the last quarter. PointState Capital LP acquired a new stake in Apollo Global Management in the 3rd quarter valued at $98,382,000. Finally, Third Point LLC acquired a new position in Apollo Global Management in the 4th quarter valued at about $83,871,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.