Citigroup Lowers Apollo Global Management (NYSE:APO) Price Target to $150.00

Key Points

• Citigroup has revised Apollo Global Management's price target from $170.00 to $150.00, indicating a potential upside of 23.08% from its current price.
• Apollo Global Management's stock currently has an average rating of Moderate Buy with one analyst rating it as a Strong Buy and others providing Buy and Hold ratings.
• Recent insider trading saw Leon D. Black sell 915,000 shares of Apollo's stock, marking a significant reduction in his ownership by 16.82%.

Apollo Global Management (NYSE:APO - Get Free Report) had its price objective lowered by investment analysts at Citigroup from $170.00 to $150.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Citigroup's price target indicates a potential upside of 23.08% from the stock's current price.

A number of other equities analysts have also recently issued reports on the company. Evercore ISI upped their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company upped their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Piper Sandler reissued an "overweight" rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. BMO Capital Markets assumed coverage on Apollo Global Management in a research note on Friday, October 3rd. They issued a "market perform" rating and a $132.00 price objective on the stock. Finally, Barclays cut their price objective on Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $161.14.

Apollo Global Management Price Performance

Shares of APO stock traded up $3.65 on Monday, hitting $121.87. 1,607,229 shares of the company's stock were exchanged, compared to its average volume of 3,597,336. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. Apollo Global Management has a 12 month low of $102.58 and a 12 month high of $189.49. The stock has a market cap of $69.72 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 1.29 and a beta of 1.68. The company has a 50 day moving average of $136.21 and a 200 day moving average of $136.18.

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

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value 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 $606,619,780. The trade was a 16.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 935,000 shares of company stock valued at $125,543,790. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Apollo Global Management

Institutional investors have recently modified their holdings of the company. Fortress Financial Solutions LLC increased its holdings in shares of Apollo Global Management by 1.6% in the second quarter. Fortress Financial Solutions LLC now owns 4,561 shares of the financial services provider's stock worth $647,000 after purchasing an additional 74 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Apollo Global Management by 44.0% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 252 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 77 shares during the last quarter. Y.D. More Investments Ltd grew its position in Apollo Global Management by 14.4% in the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock worth $85,000 after acquiring an additional 78 shares in the last quarter. Walled Lake Planning & Wealth Management LLC increased its stake in Apollo Global Management by 3.3% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock worth $345,000 after acquiring an additional 80 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its stake in shares of Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Apollo Global Management

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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