Apollo Global Management (NYSE:APO) Price Target Cut to $98.00

Apollo Global Management (NYSE:APO) had its price objective dropped by investment analysts at BMO Capital Markets from $103.00 to $98.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 15.25% from the stock’s current price.

A number of other research firms have also commented on APO. Citigroup boosted their price target on shares of Apollo Global Management from $91.00 to $100.00 in a research report on Friday, August 4th. StockNews.com began coverage on shares of Apollo Global Management in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Barclays boosted their target price on shares of Apollo Global Management from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Jefferies Financial Group boosted their target price on shares of Apollo Global Management from $97.00 to $100.00 in a research note on Tuesday, October 10th. Finally, Bank of America dropped their target price on shares of Apollo Global Management from $97.00 to $94.00 in a research note on Friday, October 6th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $95.82.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $85.03 on Friday. The firm has a market cap of $48.20 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 0.64 and a beta of 1.64. Apollo Global Management has a twelve month low of $55.16 and a twelve month high of $93.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50-day simple moving average is $87.24 and its 200-day simple moving average is $78.24.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.06). The firm had revenue of $793.00 million during the quarter, compared to analyst estimates of $781.82 million. Apollo Global Management had a net margin of 10.87% and a return on equity of 111.10%. As a group, research analysts expect that Apollo Global Management will post 6.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Apollo Global Management

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in Apollo Global Management by 113.8% during the 1st quarter. SG Americas Securities LLC now owns 78,917 shares of the financial services provider’s stock worth $4,984,000 after purchasing an additional 42,011 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Apollo Global Management by 4.4% during the second quarter. Arizona State Retirement System now owns 114,183 shares of the financial services provider’s stock worth $8,770,000 after purchasing an additional 4,803 shares during the period. Signaturefd LLC boosted its position in shares of Apollo Global Management by 24.9% in the first quarter. Signaturefd LLC now owns 7,028 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 1,403 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Apollo Global Management by 4.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 62,217 shares of the financial services provider’s stock valued at $4,710,000 after purchasing an additional 2,562 shares during the period. Finally, AE Wealth Management LLC bought a new stake in shares of Apollo Global Management in the second quarter valued at approximately $232,000. Institutional investors own 60.86% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.