Apollo Global Management (NYSE:APO) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Apollo Global Management from “strong sell” to “hold.” Despite the change, analysts’ overall consensus remains “Moderate Buy,” with a consensus price target of $152.77.
• Apollo shares opened at $134.91, below the consensus target, while the company’s latest quarterly results slightly missed expectations: EPS was $2.11 versus $2.16 expected, and revenue was $5.57 billion versus $5.65 billion forecast.
• Institutional investors own 77.06% of Apollo’s stock, with Vanguard, Geode Capital and Northern Trust among major holders. Two insiders recently sold shares, including CFO Martin Kelly, while insiders collectively retain an 8.30% ownership stake.

Apollo Global Management (NYSE:APO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday.

Other equities analysts also recently issued research reports about the stock. Piper Sandler dropped their price objective on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a research note on Monday, July 13th. Morgan Stanley decreased their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a report on Monday, July 20th. TD Cowen reissued a "buy" rating on shares of Apollo Global Management in a report on Thursday, August 6th. Finally, UBS Group boosted their price objective on Apollo Global Management from $157.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.77.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $134.91 on Tuesday. Apollo Global Management has a twelve month low of $99.56 and a twelve month high of $153.29. The business's 50 day moving average price is $126.67 and its two-hundred day moving average price is $122.71. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market cap of $79.67 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the business posted $1.92 EPS. On average, analysts predict that Apollo Global Management will post 8.12 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management 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 completion of the sale, the chief financial officer 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 legal filing with the SEC, which is available through this link. Also, insider John P. Zito sold 48,644 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock valued at $6,913,826,000 after purchasing an additional 340,956 shares in the last quarter. Geode Capital Management LLC increased its position in Apollo Global Management by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock worth $1,469,793,000 after buying an additional 200,312 shares during the last quarter. Northern Trust Corp increased 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 bought a new stake in shares of Apollo Global Management in the second quarter valued at approximately $459,987,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Apollo Global Management by 3.1% during 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 purchasing an additional 98,945 shares during the last quarter. 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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