Apollo Global Management (NYSE:APO) Stock Price Target Lowered at UBS Group

Key Points

• UBS lowered Apollo Global Management’s price target from $172 to $163 but maintained a “buy” rating, implying roughly 40% upside from the previous close.
• Apollo shares fell 2.4% to $116.41, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $152.60.
• The company’s latest quarterly results fell slightly short of expectations, reporting $2.11 in EPS versus the $2.16 consensus and revenue of $5.57 billion versus $5.65 billion expected.

Apollo Global Management (NYSE:APO - Get Free Report) had its target price reduced by research analysts at UBS Group from $172.00 to $163.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. UBS Group's price objective suggests a potential upside of 40.03% from the company's previous close.

A number of other equities research analysts have also weighed in on the company. Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. upped their price objective on shares of Apollo Global Management from $150.00 to $154.00 and gave the company an "overweight" rating in a report on Wednesday, September 2nd. Bank of America decreased their price objective on shares of Apollo Global Management from $163.00 to $161.00 in a research report on Monday, October 5th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. Finally, Jefferies Financial Group lowered their target price on shares of 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. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $152.60.

Apollo Global Management Stock Down 2.4%

NYSE APO traded down $2.81 on Tuesday, hitting $116.41. The stock had a trading volume of 3,888,933 shares, compared to its average volume of 4,242,364. The business's fifty day moving average price is $128.06 and its 200 day moving average price is $125.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. Apollo Global Management has a 52-week low of $99.56 and a 52-week high of $153.29. The stock has a market cap of $68.74 billion, a price-to-earnings ratio of 42.64, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same quarter in the prior year, the company posted $1.92 EPS. Equities research analysts anticipate that Apollo Global Management will post 8.00 earnings per share for the current year.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were 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 of the company's stock, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Armstrong Advisory Group Inc. boosted its holdings in Apollo Global Management by 2,113.9% in the third quarter. Armstrong Advisory Group Inc. now owns 28,869 shares of the financial services provider's stock valued at $3,351,000 after purchasing an additional 27,565 shares during the last quarter. Marquette Asset Management LLC lifted its holdings in shares of Apollo Global Management by 660.6% in the 3rd quarter. Marquette Asset Management LLC now owns 502 shares of the financial services provider's stock valued at $58,000 after buying an additional 436 shares during the period. Valley Wealth Managers Inc. lifted its holdings in shares of Apollo Global Management by 7.4% in the 3rd quarter. Valley Wealth Managers Inc. now owns 5,065 shares of the financial services provider's stock valued at $588,000 after buying an additional 350 shares during the period. Wedmont Private Capital boosted its stake in shares of Apollo Global Management by 126.8% in the third quarter. Wedmont Private Capital now owns 12,671 shares of the financial services provider's stock worth $1,471,000 after buying an additional 7,083 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its stake in shares of Apollo Global Management by 4.3% in the third quarter. Central Bank & Trust Co. now owns 9,534 shares of the financial services provider's stock worth $1,107,000 after buying an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

About Apollo Global Management

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.

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