Apollo Global Management (NYSE:APO) Now Covered by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets has initiated coverage of Apollo Global Management with a "market perform" rating and a price target of $132.00, suggesting a potential upside of 3.86% from current levels.
• Multiple analysts have increased their target prices for Apollo, with Citigroup setting a new target at $170.00 and Barclays at $168.00, indicating strong overall sentiment in the market towards the stock.
• Apollo Global Management recently reported an EPS of $1.92 for the quarter, surpassing estimates and demonstrating a growth in revenue, which totaled $6.55 billion for the period.

Research analysts at BMO Capital Markets assumed coverage on shares of Apollo Global Management (NYSE:APO - Get Free Report) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a "market perform" rating and a $132.00 price target on the financial services provider's stock. BMO Capital Markets' target price would indicate a potential upside of 3.86% from the company's current price.

APO has been the topic of a number of other reports. Citigroup lifted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Barclays lifted their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Evercore ISI lifted their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $164.07.

Apollo Global Management Stock Down 2.2%

APO opened at $127.09 on Friday. The company has a fifty day moving average of $138.85 and a two-hundred day moving average of $137.11. Apollo Global Management has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The stock has a market capitalization of $72.70 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.40 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter last year, the business earned $1.64 earnings per share. On average, research analysts expect that Apollo Global Management will post 8 earnings per share for the current year.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leon D. Black sold 915,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. The trade was a 16.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock worth $125,543,790 in the last 90 days. Corporate insiders own 8.20% of the company's stock.

Institutional Trading of Apollo Global Management

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Apollo Global Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after purchasing an additional 893,428 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Apollo Global Management by 24.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock valued at $490,482,000 after purchasing an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Apollo Global Management by 1.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider's stock valued at $432,727,000 after acquiring an additional 36,866 shares during the last quarter. Boston Partners acquired a new stake in Apollo Global Management in the 1st quarter valued at about $370,543,000. Finally, Allen Investment Management LLC grew its stake in Apollo Global Management by 14.4% in the 1st quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider's stock valued at $361,664,000 after acquiring an additional 333,428 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

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