Apollo Global Management (NYSE:APO) Stock Gets Price Target Reduction from UBS Group

Key Points

• UBS lowered its Apollo Global Management price target from $163 to $160 but maintained a “Buy” rating; its new target implies 36.71% upside from the prior close.
• Analyst views were mixed: 13 analysts rated the stock “Buy” and six “Hold,” for a “Moderate Buy” consensus and an average target of $146.74. TD Cowen, Jefferies and BMO cut targets, while JPMorgan raised its target to $157.
• Apollo shares opened Thursday at $117.04, down 4.7%. The company’s latest reported quarterly EPS of $2.11 fell short of the $2.16 consensus estimate, as revenue of $5.57 billion also missed expectations.

Apollo Global Management (NYSE:APO - Get Free Report) had its price target dropped by stock analysts at UBS Group from $163.00 to $160.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. UBS Group's target price points to a potential upside of 36.71% from the stock's previous close.

Several other analysts also recently issued reports on APO. TD Cowen decreased their target price on Apollo Global Management from $154.00 to $136.00 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Apollo Global Management from $153.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday. Jefferies Financial Group dropped their price target on Apollo Global Management from $138.00 to $127.00 and set a "hold" rating for the company in a research note on Tuesday, October 6th. BMO Capital Markets cut their price objective on shares of Apollo Global Management from $134.00 to $124.00 and set a "market perform" rating for the company in a report on Tuesday, October 27th. Finally, HSBC assumed coverage on shares of Apollo Global Management in a report on Monday, July 20th. They set a "buy" rating and a $145.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $146.74.

Apollo Global Management Trading Down 4.7%

Shares of Apollo Global Management stock opened at $117.04 on Thursday. Apollo Global Management has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.41. The company has a market capitalization of $69.11 billion, a P/E ratio of -63.95, a P/E/G ratio of 1.13 and a beta of 1.51. The company has a fifty day moving average of $121.12 and a 200 day moving average of $123.06.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a negative net margin of 2.98% and a positive return on equity of 12.11%. During the same period in the prior year, the business earned $1.92 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management will post 7.96 earnings per share for the current fiscal year.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the business's 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 sale, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company's stock.

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors have recently added to or reduced their stakes in APO. Continuum Advisory LLC bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at about $30,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $31,000. Avion Wealth boosted its stake in shares of Apollo Global Management by 159.2% during the third quarter. Avion Wealth now owns 267 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 164 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Apollo Global Management during the third quarter valued at approximately $32,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Apollo Global Management during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management News Roundup

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

• Positive Sentiment: JPMorgan raised its price target to $157 from $153 and maintained an “overweight” rating, signaling confidence in Apollo’s potential. JPMorgan price-target article
• Positive Sentiment: Apollo reported record quarterly originations of $114 billion and assets under management of $1.07 trillion, which may support its growth and fee-generating capacity. Apollo originations and AUM article
• Neutral Sentiment: Goldman Sachs and Apollo are reportedly seeking buyers for a roughly $40 billion SpaceX AI-chip financing deal. The potential mandate could create a sizable opportunity, but the report describes talks rather than a completed transaction. SpaceX financing article
• Neutral Sentiment: A report says Nvidia is considering Apollo’s struggling telecom sites as a way to address data-center constraints. Any benefit to Apollo would depend on whether a deal proceeds and how the sites are used. Nvidia telecom-sites article
• Negative Sentiment: RBC issued a pessimistic forecast, while Keefe, Bruyette & Woods and Barclays lowered their price targets. The cluster of cautious analyst actions may be weighing on sentiment, despite JPMorgan’s increase. RBC outlook article KBW target article Barclays target article

Apollo Global Management Company Profile

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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