Apollo Global Management (NYSE:APO) Stock Rating Upgraded by HSBC

Key Points

• HSBC upgraded Apollo Global Management (NYSE:APO) to a “strong-buy” rating, adding to a generally positive analyst backdrop for the stock.
• Despite the upgrade, APO shares were down 1.8% in Monday trading, opening at $118.28, while the stock remains well below its 52-week high of $153.43.
• On its latest earnings report, Apollo beat EPS estimates with $1.94 per share, though revenue came in below expectations and was down 8.8% year over year.

Apollo Global Management (NYSE:APO - Get Free Report) was upgraded by equities researchers at HSBC to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on APO. Weiss Ratings lowered Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Barclays upped their target price on shares of Apollo Global Management from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. TD Cowen cut their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a report on Monday, May 18th. UBS Group lifted their price objective on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada reduced their target price on Apollo Global Management from $146.00 to $137.00 and set a "sector perform" rating for the company in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and an average price target of $149.15.

Apollo Global Management Trading Down 1.8%

Shares of APO opened at $118.28 on Monday. The firm has a market cap of $68.19 billion, a P/E ratio of 75.34, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. Apollo Global Management has a fifty-two week low of $99.56 and a fifty-two week high of $153.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The business has a 50-day moving average of $127.28 and a 200 day moving average of $124.71.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business earned $1.82 EPS. Apollo Global Management's revenue was down 8.8% compared to the same quarter last year. As a group, research analysts forecast that Apollo Global Management will post 8.23 EPS for the current year.

Insider Buying and Selling at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.30% of the company's stock.

Institutional Trading of Apollo Global Management

Several hedge funds and other institutional investors have recently bought and sold shares of APO. Vanguard Group Inc. grew its holdings in shares of Apollo Global Management by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock worth $6,913,826,000 after purchasing an additional 340,956 shares during the last quarter. Geode Capital Management LLC boosted its position in Apollo Global Management by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock valued at $1,469,793,000 after buying an additional 200,312 shares during the period. Northern Trust Corp grew its holdings in Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock worth $643,982,000 after acquiring an additional 62,831 shares during the last quarter. Legal & General Group Plc grew its holdings in Apollo Global Management by 4.5% in the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after acquiring an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Apollo Global Management by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock valued at $475,985,000 after acquiring an additional 98,945 shares during the period. Institutional investors own 77.06% of the company's stock.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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