Apollo Global Management (NYSE:APO) Price Target Raised to $157.00

Key Points

• JPMorgan raised its price target on Apollo Global Management to $157 from $153 and maintained an “overweight” rating, implying 28.77% upside from the prior close.
• Analyst sentiment remains positive overall: 14 analysts rate the stock Buy and six Hold, producing a “Moderate Buy” consensus and an average target of $147.30.
• Apollo shares rose 7.4% to $121.93 in Wednesday trading. Its latest reported quarter fell short of analyst expectations for both earnings per share and revenue.

Apollo Global Management (NYSE:APO - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $153.00 to $157.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 28.77% from the stock's previous close.

Several other research analysts also recently weighed in on APO. UBS Group decreased their target price on shares of Apollo Global Management from $172.00 to $163.00 and set a "buy" rating for the company in a research note on Tuesday, October 13th. Evercore lifted their target price on Apollo Global Management from $145.00 to $146.00 in a research report on Thursday, October 8th. Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. The Goldman Sachs Group reduced their price target on Apollo Global Management from $154.00 to $148.00 and set a "buy" rating for the company in a report on Friday, October 2nd. Finally, Wells Fargo & Company assumed coverage on 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. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and a consensus price target of $147.30.

Apollo Global Management Stock Up 7.4%

NYSE:APO traded up $8.38 during mid-day trading on Wednesday, hitting $121.93. The company had a trading volume of 4,338,392 shares, compared to its average volume of 4,228,042. The business has a fifty day simple moving average of $121.66 and a 200-day simple moving average of $123.30. The firm has a market capitalization of $72.00 billion, a price-to-earnings ratio of 44.67, a PEG 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. 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 (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The company had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.65 billion. During the same period in the previous year, the company earned $1.92 EPS. Equities analysts forecast that Apollo Global Management will post 7.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on 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 transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Apollo Global Management

A number of institutional investors and hedge funds have recently modified their holdings of APO. Greenleaf Trust raised its stake in Apollo Global Management by 2.6% during the third quarter. Greenleaf Trust now owns 4,144 shares of the financial services provider's stock worth $481,000 after acquiring an additional 105 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Apollo Global Management by 3.9% during the first quarter. International Assets Investment Management LLC now owns 3,167 shares of the financial services provider's stock valued at $349,000 after purchasing an additional 119 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Apollo Global Management by 4.7% during the third quarter. Chickasaw Capital Management LLC now owns 2,663 shares of the financial services provider's stock valued at $309,000 after purchasing an additional 120 shares during the last quarter. Bfsg LLC raised its position in shares of Apollo Global Management by 58.4% during the 3rd quarter. Bfsg LLC now owns 331 shares of the financial services provider's stock worth $38,000 after purchasing an additional 122 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Apollo Global Management by 2.4% in the 2nd quarter. 180 Wealth Advisors LLC now owns 5,571 shares of the financial services provider's stock worth $659,000 after purchasing an additional 131 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Key Apollo Global Management News

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

• Positive Sentiment: Apollo reported $802 million in fee-related earnings and record quarterly originations of $114 billion, supporting the case for growth in its core fee-generating and lending businesses. Apollo Global: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Apollo is expanding its private-credit business with a European lending platform and aims to nearly double credit assets under management by 2029. Its reported $1.07 trillion in assets also highlights demand for alternative investments. Apollo Taps European Private Credit Markets With New Lending Platform
• Positive Sentiment: The company declared a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually. Apollo Global Management stock information
• Neutral Sentiment: Barclays and Morgan Stanley trimmed their price targets by $1 each but kept “overweight” ratings. RBC and Keefe, Bruyette & Woods also cut targets and maintained “sector perform” and “market perform” ratings, respectively—signaling a more cautious outlook while still indicating potential upside from recent levels. Barclays recommendations
• Negative Sentiment: Third-quarter earnings missed analyst expectations, and Apollo swung to a $1.06 billion net loss attributable to common shareholders, versus a profit a year earlier, due to investment-related losses. Rising expenses were another concern. Apollo Global Swings to a Loss on Investment-Related Losses

About Apollo Global Management

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.

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