Apollo Global Management (NYSE:APO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Apollo Global Management (NYSE:APO - Get Free Report) had its target price raised by equities research analysts at Wells Fargo & Company from $158.00 to $160.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective points to a potential upside of 21.74% from the stock's current price.

A number of other brokerages have also weighed in on APO. Piper Sandler cut their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Barclays boosted their price objective on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. TD Cowen cut their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Raymond James assumed coverage on Apollo Global Management in a report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Trading Down 1.3%

APO stock traded down $1.74 during midday trading on Friday, hitting $131.43. 2,276,406 shares of the company's stock were exchanged, compared to its average volume of 3,939,362. The stock's fifty day moving average price is $132.44 and its 200-day moving average price is $151.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $75.11 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. Apollo Global Management has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same quarter last year, the firm earned $1.72 EPS. The company's revenue for the quarter was down 21.2% on a year-over-year basis. Research analysts predict that Apollo Global Management will post 8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the sale, the chief financial officer now owns 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.20% of the company's stock.

Hedge Funds Weigh In On Apollo Global Management

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares during the period. Vanguard Group Inc. raised its holdings in Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after acquiring an additional 3,691,700 shares during the period. Boston Partners bought a new position in shares of Apollo Global Management during the first quarter worth approximately $370,543,000. Nuveen LLC bought a new position in shares of Apollo Global Management during the first quarter worth approximately $342,335,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after purchasing an additional 1,886,146 shares during the period. 77.06% of the stock is owned by institutional investors.

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.