Skip to main content

Oppenheimer Upgrades Apollo Global Management (NYSE:APO) to Outperform

Last updated on Tuesday, April 20, 2021 | 2021 MarketBeat

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.

See Also: Asset Allocation Models, Which is Right For You?

Analyst Recommendations for Apollo Global Management (NYSE:APO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Capital gains and your 401(k) or IRA


7 Stocks to Watch When Student Debt Forgiveness Gets Passed

Now that the Biden administration is fully in charge, student debt forgiveness has moved to the front burner. Consider these numbers. There is an estimated $1.7 trillion in student debt. The average student carries approximately $30,000 in student loans.

If $10,000 of student debt were to be canceled, there are estimates that one-third of borrowers (between 15 million to 16.3 million) would become debt-free. Of course, if the number hits $50,000 as some lawmakers are suggesting the impact would even greater.

Putting aside personal thoughts on the wisdom of pursuing this path, it has the potential to unleash a substantial stimulus into the economy.

And as an investor, it’s fair to ask where that money would go. After all, there’s no harm in having investors profit from this stimulus as well.

A counter-argument is that the absence of one monthly payment may not provide enough money to make an impact. However, Senator Elizabeth Warren referred to the effect student loans have in preventing many in the millennial and Gen-Z generations from pursuing big picture life goals such as buying a house, starting a business, or starting a family.

With that in mind, we’ve put together this special presentation that looks at 7 stocks that are likely to benefit if borrowers are set free from the burden of student loans.

View the "7 Stocks to Watch When Student Debt Forgiveness Gets Passed".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.