Apollo Global Management (NYSE:APO) Given New $154.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered Apollo Global Management’s price target to $154 from $159 while maintaining a “buy” rating, implying approximately 29.3% upside from the previous close.
• Analyst sentiment remains favorable, with 14 “buy” ratings and six “hold” ratings, producing a consensus “moderate buy” rating and average price target of $153.05.
• Apollo shares recently traded at $119.11, below their 50-day and 200-day moving averages. The company’s latest quarterly results missed analyst expectations for both earnings per share and revenue.

Apollo Global Management (NYSE:APO - Get Free Report) had its price objective dropped by equities research analysts at TD Cowen from $159.00 to $154.00 in a report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. TD Cowen's price objective would suggest a potential upside of 29.30% from the company's previous close.

APO has been the subject of a number of other reports. Wells Fargo & Company assumed coverage on shares of Apollo Global Management in a research note on Friday, October 2nd. They set an "equal weight" rating and a $127.00 price objective for the company. UBS Group lifted their target price on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group dropped their target price on shares of Apollo Global Management from $154.00 to $148.00 and set a "buy" rating on the stock in a research report on Friday, October 2nd. Jefferies Financial Group cut their price target on shares of Apollo Global Management from $138.00 to $127.00 and set a "hold" rating on the stock in a report on Tuesday, October 6th. Finally, Wall Street Zen upgraded shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $153.05.

Apollo Global Management Price Performance

Shares of NYSE APO traded up $0.46 during mid-day trading on Monday, reaching $119.11. The company had a trading volume of 413,737 shares, compared to its average volume of 4,236,969. The company has a 50-day moving average price of $128.27 and a two-hundred day moving average price of $125.06. The stock has a market cap of $70.34 billion, a PE ratio of 43.68, a P/E/G ratio of 1.06 and a beta of 1.58. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management has a 1-year low of $99.56 and a 1-year high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last announced 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). 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 prior year, the company earned $1.92 earnings per share. On average, equities analysts anticipate that Apollo Global Management will post 8.00 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 bought and sold shares of the business. Nykredit A S bought a new position in Apollo Global Management during the second quarter valued at about $14,515,000. Louisiana State Employees Retirement System bought a new stake in shares of Apollo Global Management in the 1st quarter worth approximately $2,641,000. Cooper Financial Group lifted its position in shares of Apollo Global Management by 1,194.5% in the 3rd quarter. Cooper Financial Group now owns 48,143 shares of the financial services provider's stock worth $5,587,000 after acquiring an additional 44,424 shares during the period. Hsbc Holdings PLC lifted its position in shares of Apollo Global Management by 7.1% in the 4th quarter. Hsbc Holdings PLC now owns 894,451 shares of the financial services provider's stock worth $129,786,000 after acquiring an additional 59,585 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of Apollo Global Management during the 2nd quarter worth approximately $172,290,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.