Citigroup Issues Pessimistic Forecast for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO) had its target price dropped by Citigroup from $191.00 to $138.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price points to a potential upside of 7.23% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Barclays reduced their target price on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday. Bank of America lifted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 4th. BMO Capital Markets boosted their target price on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods reduced their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $157.16.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $128.69 on Tuesday. The company has a 50 day moving average of $143.27 and a 200-day moving average of $153.45. The company has a market cap of $73.42 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management has a 1-year low of $95.11 and a 1-year high of $189.49.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the acquisition, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Several institutional investors and hedge funds have recently made changes to their positions in the business. Fourth Dimension Wealth LLC bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $25,000. Hopwood Financial Services Inc. acquired a new position in shares of Apollo Global Management during the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management during the fourth quarter worth $34,000. Byrne Asset Management LLC acquired a new stake in Apollo Global Management in the fourth quarter worth $37,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Apollo Global Management in the fourth quarter worth $39,000. Institutional investors own 77.06% 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, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.