Wells Fargo & Company Has Lowered Expectations for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO) had its price objective cut by equities researchers at Wells Fargo & Company from $177.00 to $139.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 26.30% from the company’s previous close.

APO has been the topic of several other reports. Barclays reduced their price objective on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday. Piper Sandler reduced their target price on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. BMO Capital Markets upped their target price on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Bank of America boosted their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.68.

Apollo Global Management Trading Down 2.1 %

Shares of APO traded down $2.31 during mid-day trading on Tuesday, reaching $110.06. The company had a trading volume of 7,459,622 shares, compared to its average volume of 3,670,808. The stock has a market cap of $62.78 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $147.39 and a 200-day simple moving average of $154.01. Apollo Global Management has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Insider Buying and Selling

In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of Apollo Global Management by 2.9% in the 1st quarter. Rhumbline Advisers now owns 847,085 shares of the financial services provider’s stock valued at $116,000,000 after purchasing an additional 23,943 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Apollo Global Management by 2.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,159 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 119 shares during the last quarter. Doliver Advisors LP boosted its holdings in shares of Apollo Global Management by 13.0% during the 1st quarter. Doliver Advisors LP now owns 17,143 shares of the financial services provider’s stock worth $2,348,000 after buying an additional 1,969 shares in the last quarter. Parallel Advisors LLC raised its stake in Apollo Global Management by 10.7% during the 1st quarter. Parallel Advisors LLC now owns 3,829 shares of the financial services provider’s stock worth $524,000 after buying an additional 371 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Apollo Global Management by 22,053.8% during the first quarter. GAMMA Investing LLC now owns 613,217 shares of the financial services provider’s stock worth $839,740,000 after buying an additional 610,449 shares in the last quarter. 77.06% of the stock is 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.