Piper Sandler Has Lowered Expectations for Apollo Global Management (NYSE:APO) Stock Price

Key Points

• Piper Sandler cut Apollo Global Management’s price target from $159 to $145 but maintained an “overweight” rating, implying 29.3% upside from the prior close.
• Analyst sentiment remains broadly positive, with 14 Buy ratings and six Holds; the consensus rating is “Moderate Buy” with a $151.90 price target.
• Apollo shares rose 1.2% to $112.14, while the company’s latest quarterly results fell slightly short of expectations, reporting $2.11 in adjusted EPS and $5.57 billion in revenue.

Apollo Global Management (NYSE:APO - Get Free Report) had its price objective decreased by stock analysts at Piper Sandler from $159.00 to $145.00 in a report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price objective suggests a potential upside of 29.30% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised Apollo Global Management to a "hold" rating in a research report on Monday, July 20th. The Goldman Sachs Group lowered their target price on Apollo Global Management from $154.00 to $148.00 and set a "buy" rating for the company in a research note on Friday, October 2nd. HSBC initiated coverage on Apollo Global Management in a report on Monday, July 20th. They set a "buy" rating and a $145.00 target price on the stock. Royal Bank Of Canada boosted their price target on Apollo Global Management from $137.00 to $146.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Finally, Barclays boosted their price target on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $151.90.

Apollo Global Management Stock Up 1.2%

Shares of NYSE:APO traded up $1.36 during midday trading on Monday, hitting $112.14. 373,555 shares of the company's stock traded hands, compared to its average volume of 4,239,246. 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 cap of $66.22 billion, a PE ratio of 41.01, a P/E/G ratio of 0.98 and a beta of 1.58. The firm's fifty day moving average price is $126.76 and its two-hundred day moving average price is $125.22. Apollo Global Management has a twelve month low of $99.56 and a twelve month high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same period last year, the company posted $1.92 earnings per share. On average, equities research analysts anticipate that Apollo Global Management will post 8.00 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apollo Global Management 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 transaction of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apollo Global Management

Several institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in shares of Apollo Global Management during the second quarter valued at approximately $459,987,000. Bank of New York Mellon Corp bought a new stake in Apollo Global Management during the second quarter worth approximately $336,644,000. Temasek Holdings Private Ltd raised its holdings in Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Deutsche Bank AG acquired a new stake in Apollo Global Management in the second quarter worth approximately $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Apollo Global Management in the second quarter worth approximately $136,528,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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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