Apollo Global Management (NYSE:APO) Stock Price Expected to Rise, Evercore ISI Analyst Says

Apollo Global Management (NYSE:APO) had its target price hoisted by stock analysts at Evercore ISI from $145.00 to $155.00 in a report issued on Wednesday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price would suggest a potential upside of 20.03% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Citigroup cut their target price on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. BMO Capital Markets initiated coverage on Apollo Global Management in a research report on Friday, October 3rd. They issued a “market perform” rating and a $132.00 target price on the stock. Wells Fargo & Company increased their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Morgan Stanley reduced their price target on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $129.13 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $73.87 billion, a P/E ratio of 24.14, a P/E/G ratio of 1.42 and a beta of 1.63. Apollo Global Management has a 12 month low of $102.58 and a 12 month high of $189.49. The stock has a 50 day moving average of $131.03 and a 200-day moving average of $136.14.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $1.64 EPS. As a group, equities research analysts predict that Apollo Global Management will post 8 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer owned 332,399 shares of the company’s stock, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider directly owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This represents a 16.82% decrease in their position. The SEC filing for this sale provides additional information. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at $25,000. GW&K Investment Management LLC lifted its position in shares of Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in Apollo Global Management by 99.0% in the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Activest Wealth Management grew its position in Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 175 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new position in Apollo Global Management during the third quarter worth about $28,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Company Profile

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.