Apollo Global Management (NYSE:APO) Stock Price Breaks Above 50-Day Moving Average on Analyst Downgrade

Key Points

• Apollo shares moved above their 50-day moving average, trading as high as $123.08 after JPMorgan raised its price target from $153 to $157 and maintained an Overweight rating.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and a $147.30 average price target, though several firms recently lowered their targets.
• Apollo’s latest reported quarter fell short of expectations, with EPS of $2.11 versus a $2.16 consensus and revenue of $5.57 billion versus $5.65 billion expected.

Apollo Global Management Inc. (NYSE:APO - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $153.00 to $157.00. The stock has a 50 day moving average of $121.46 and traded as high as $123.08. JPMorgan Chase & Co. currently has an overweight rating on the stock. Apollo Global Management shares last traded at $122.9630, with a volume of 7,571,501 shares traded.

A number of other equities analysts also recently weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 price target on shares of Apollo Global Management in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of Apollo Global Management in a research note on Friday, October 2nd. They set an "equal weight" rating and a $127.00 price target for the company. BMO Capital Markets cut their price objective on shares of Apollo Global Management from $134.00 to $124.00 and set a "market perform" rating on the stock in a research report on Tuesday, October 27th. Jefferies Financial Group reduced their target price on shares of Apollo Global Management from $138.00 to $127.00 and set a "hold" rating for the company in a report on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $147.30.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.30% of the company's stock.

Apollo Global Management News Summary

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Apollo reported record quarterly originations of $114 billion, fee-related earnings of $802 million and assets under management of $1.07 trillion. The figures point to growing activity and scale across its business. Apollo reports record originations and AUM
• Positive Sentiment: Apollo is expanding its private-credit business, including a new European lending platform, while AI-related financing demand presents a potential source of future originations. Apollo launches European lending platform
• Neutral Sentiment: Analyst actions were mixed: JPMorgan raised its target to $157 and kept an Overweight rating, while Morgan Stanley, Barclays, RBC and KBW trimmed targets. The latter group retained Overweight or equivalent ratings, except RBC’s Sector Perform. JPMorgan analyst update
• Negative Sentiment: Third-quarter results missed analyst expectations, and Apollo posted a $1.06 billion net loss attributable to common stockholders, compared with a profit a year earlier. The company attributed the loss to investment-related items; rising expenses also weighed on the earnings picture. Apollo swings to a loss on investment-related losses

Institutional Investors Weigh In On Apollo Global Management

Large investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Apollo Global Management by 4.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock valued at $669,372,000 after acquiring an additional 234,517 shares in the last quarter. Legal & General Group Plc acquired a new stake in Apollo Global Management in the 2nd quarter worth about $459,987,000. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management in the 2nd quarter worth about $336,644,000. Temasek Holdings Private Ltd raised its stake in Apollo Global Management by 214.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Finally, Curated Wealth Partners LLC boosted its holdings in Apollo Global Management by 91.8% in the 3rd quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider's stock valued at $255,887,000 after purchasing an additional 1,055,818 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Stock Up 8.3%

The stock's fifty day simple moving average is $121.46 and its 200-day simple moving average is $123.19. The stock has a market cap of $72.61 billion, a P/E ratio of -67.19, a P/E/G ratio of 1.05 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.41.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a positive return on equity of 12.11% and a negative net margin of 2.98%. During the same period in the prior year, the business posted $1.92 earnings per share. As a group, research analysts forecast that Apollo Global Management Inc. will post 7.96 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, November 18th. Apollo Global Management's dividend payout ratio (DPR) is 82.42%.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.

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