Apollo Global Management (NYSE:APO) was upgraded by stock analysts at Oppenheimer from a "market perform" rating to an "outperform" rating in a report issued on Tuesday, Benzinga reports. The brokerage presently has a $59.00 price objective on the financial services provider's stock. Oppenheimer's price objective would indicate a potential upside of 14.59% from the stock's current price.
A number of other research analysts also recently commented on the company. Wells Fargo & Company lowered their target price on Apollo Global Management from $62.00 to $57.00 and set an "overweight" rating on the stock in a research note on Monday, April 12th. Morgan Stanley boosted their target price on Apollo Global Management from $55.00 to $62.00 and gave the company an "overweight" rating in a research note on Monday, February 8th. Citigroup upgraded Apollo Global Management from a "neutral" rating to a "buy" rating and boosted their target price for the company from $53.00 to $56.00 in a research note on Monday, March 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Apollo Global Management from a "neutral" rating to a "buy" rating in a research report on Monday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Apollo Global Management from $52.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, April 9th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of "Buy" and a consensus price target of $55.27.
Shares of APO stock opened at $51.49 on Tuesday. Apollo Global Management has a 1-year low of $34.85 and a 1-year high of $55.38. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of -61.30, a P/E/G ratio of 5.26 and a beta of 1.62. The stock's fifty day simple moving average is $48.18 and its 200-day simple moving average is $46.79.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, February 2nd. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.22. The business had revenue of $519.79 million for the quarter, compared to analysts' expectations of $480.07 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The business's quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts predict that Apollo Global Management will post 1.81 EPS for the current year.
In other news, insider Joshua Harris sold 1,000 shares of the company's stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the sale, the insider now directly owns 1,350,000 shares in the company, valued at approximately $68,850,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Tiger Global Management Llc acquired 1,000,000 shares of the stock in a transaction dated Thursday, March 11th. The stock was bought at an average price of $47.22 per share, for a total transaction of $47,220,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,313,928 shares of company stock worth $67,269,864. Corporate insiders own 9.30% of the company's stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC bought a new stake in Apollo Global Management during the 1st quarter worth approximately $407,000. YorkBridge Wealth Partners LLC grew its position in Apollo Global Management by 33.0% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 11,990 shares of the financial services provider's stock worth $564,000 after acquiring an additional 2,974 shares during the last quarter. Rothschild Investment Corp IL grew its position in Apollo Global Management by 3.6% during the 1st quarter. Rothschild Investment Corp IL now owns 10,964 shares of the financial services provider's stock worth $516,000 after acquiring an additional 379 shares during the last quarter. DnB Asset Management AS grew its position in Apollo Global Management by 14.2% during the 1st quarter. DnB Asset Management AS now owns 96,271 shares of the financial services provider's stock worth $4,526,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Mcdonald Partners LLC bought a new stake in Apollo Global Management during the 1st quarter worth approximately $233,000. Institutional investors and hedge funds own 71.95% of the company's stock.
Apollo Global Management Company Profile
Apollo Global Management, Inc is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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