Apollo Global Management (NYSE:APO) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its Apollo Global Management price target from $146 to $138 and maintained a “sector perform” rating; the new target implies about 15% upside from the cited share price.
• Analyst sentiment overall remains positive: MarketBeat reports a “Moderate Buy” consensus and an average target of $148.85, with 14 Buy and six Hold ratings.
• Apollo’s latest reported quarterly results missed estimates, with EPS of $2.11 versus the $2.16 consensus and revenue of $5.57 billion versus expectations of $5.65 billion.

Apollo Global Management (NYSE:APO - Get Free Report) had its target price reduced by stock analysts at Royal Bank Of Canada from $146.00 to $138.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "sector perform" rating on the financial services provider's stock. Royal Bank Of Canada's price target suggests a potential upside of 15.12% from the company's current price.

A number of other research analysts also recently commented on APO. Evercore boosted their target price on Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. Piper Sandler reiterated an "overweight" rating and set a $145.00 price target on shares of Apollo Global Management in a report on Wednesday. Rothschild & Co Redburn boosted their price target on Apollo Global Management from $171.00 to $173.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, TD Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research note on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $148.85.

Apollo Global Management Stock Up 5.6%

Shares of NYSE APO traded up $6.32 during mid-day trading on Wednesday, reaching $119.87. The company had a trading volume of 1,998,462 shares, compared to its average volume of 4,217,805. The stock has a fifty day moving average of $121.66 and a two-hundred day moving average of $123.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market capitalization of $70.79 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 1.10 and a beta of 1.51. Apollo Global Management has a 12-month low of $99.56 and a 12-month high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data 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). 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 previous year, the firm posted $1.92 earnings per share. As a group, equities research analysts expect that Apollo Global Management will post 7.96 EPS for the current year.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is owned by insiders.

Institutional Trading of Apollo Global Management

Several large investors have recently modified their holdings of APO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apollo Global Management by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock valued at $669,372,000 after buying an additional 234,517 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Apollo Global Management during the second quarter worth $459,987,000. Bank of New York Mellon Corp bought a new stake in shares of Apollo Global Management in the second quarter valued at about $336,644,000. Temasek Holdings Private Ltd boosted its position in shares of Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock valued at $263,861,000 after acquiring an additional 1,614,813 shares during the period. Finally, Curated Wealth Partners LLC grew its stake in shares of Apollo Global Management by 91.8% in the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider's stock valued at $255,887,000 after acquiring an additional 1,055,818 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Trending Headlines about Apollo Global Management

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

• Positive Sentiment: Fee-related earnings reached $802 million in Q3, while origination volume hit a record $114 billion. Apollo also reported $1.07 trillion in assets, reflecting demand for alternative investments. Article: Apollo Global: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Apollo is expanding private-credit origination with a new European lending platform, supporting its goal of significantly growing credit assets. Article: Apollo Taps European Private Credit Markets With New Lending Platform
• Neutral Sentiment: The company declared a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually. Apollo also plans a $350 million software overhaul for its private-credit trading operations, an investment that could support efficiency but entails costs. Article: Apollo to Spend $350 Million on Software Overhaul
• Negative Sentiment: Q3 adjusted earnings per share fell short of analyst expectations, and Apollo posted a $1.06 billion net loss attributable to common shareholders, versus a profit a year earlier, due to investment-related losses. The earnings miss and rising expenses are the clearest near-term negatives for the stock. Article: Apollo Global Swings to a Loss on Investment-Related Losses
• Negative Sentiment: Keefe, Bruyette & Woods lowered its price target from $135 to $130 and maintained a “market perform” rating. The reduced target signals more limited analyst conviction, although it still implies upside from the cited share price. Analyst ratings

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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