Apollo Global Management (NYSE:APO) PT Lowered to $41.00

Apollo Global Management (NYSE:APO) had its target price cut by Morgan Stanley from $42.00 to $41.00 in a research report report published on Tuesday, April 10th, MarketBeat.com reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts also recently commented on APO. Zacks Investment Research upgraded Apollo Global Management from a hold rating to a buy rating and set a $40.00 target price for the company in a research report on Monday, February 5th. Keefe, Bruyette & Woods restated a buy rating and set a $43.00 price objective on shares of Apollo Global Management in a research report on Thursday, February 1st. ValuEngine upgraded Apollo Global Management from a buy rating to a strong-buy rating in a research report on Friday, February 2nd. Citigroup upgraded Apollo Global Management from a neutral rating to a buy rating and set a $40.00 price objective for the company in a research report on Monday, March 12th. Finally, Deutsche Bank decreased their target price on Apollo Global Management from $36.00 to $33.00 and set a hold rating for the company in a research note on Friday, April 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Apollo Global Management has a consensus rating of Buy and a consensus target price of $36.67.

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APO opened at $29.21 on Tuesday. Apollo Global Management has a 1-year low of $24.83 and a 1-year high of $37.35. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5,933.22, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.55. Apollo Global Management had a return on equity of 62.94% and a net margin of 23.92%. The firm had revenue of $869.50 million for the quarter, compared to analyst estimates of $599.38 million. During the same period in the prior year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. equities analysts expect that Apollo Global Management will post 2.32 earnings per share for the current year.

In related news, insider Joshua Harris sold 4,500,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $34.00, for a total transaction of $153,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 15,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $34.25, for a total value of $513,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 151,280 shares of company stock worth $4,527,585 and sold 5,091,842 shares worth $173,113,138. Insiders own 4.11% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC lifted its stake in shares of Apollo Global Management by 1.9% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,821,500 shares of the financial services provider’s stock valued at $127,906,000 after acquiring an additional 70,200 shares during the last quarter. Beck Mack & Oliver LLC lifted its stake in shares of Apollo Global Management by 1.1% in the 4th quarter. Beck Mack & Oliver LLC now owns 3,093,673 shares of the financial services provider’s stock valued at $103,545,000 after acquiring an additional 34,943 shares during the last quarter. CDAM UK Ltd bought a new stake in shares of Apollo Global Management in the 4th quarter valued at about $77,206,000. Arrowstreet Capital Limited Partnership raised its position in Apollo Global Management by 56.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,233,286 shares of the financial services provider’s stock valued at $41,278,000 after purchasing an additional 443,134 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Apollo Global Management by 4.7% during the 4th quarter. Wells Fargo & Company MN now owns 443,155 shares of the financial services provider’s stock valued at $14,833,000 after purchasing an additional 19,749 shares during the last quarter. 70.46% of the stock is owned by institutional investors.

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About Apollo Global Management

Apollo Global Management, LLC 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 and mutual funds for its clients.

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