BMO Capital Markets Cuts Apollo Global Management (NYSE:APO) Price Target to $126.00

Apollo Global Management (NYSE:APO) had its price objective dropped by stock analysts at BMO Capital Markets from $140.00 to $126.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 4.60% from the company’s current price.

Other research analysts have also issued research reports about the stock. UBS Group increased their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Piper Sandler reduced their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Barclays increased their price objective on shares of Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank Of Canada lifted their target price on shares of Apollo Global Management from $139.00 to $146.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.25.

Apollo Global Management Price Performance

NYSE:APO opened at $120.46 on Monday. Apollo Global Management has a 52 week low of $99.56 and a 52 week high of $157.28. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $69.45 billion, a P/E ratio of 76.73, a P/E/G ratio of 1.08 and a beta of 1.50. The stock’s fifty day moving average is $128.43 and its two-hundred day moving average is $125.86.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 EPS. Equities analysts expect that Apollo Global Management will post 8.25 EPS for the current year.

Insider Transactions at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

Several large investors have recently added to or reduced their stakes in APO. Swiss Life Asset Management Ltd increased its holdings in Apollo Global Management by 26.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 48,201 shares of the financial services provider’s stock worth $6,424,000 after purchasing an additional 9,936 shares during the period. Legal & General Group Plc boosted its stake in shares of Apollo Global Management by 4.5% in the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after buying an additional 155,857 shares during the period. Sandro Wealth Management LLC purchased a new position in shares of Apollo Global Management in the 4th quarter valued at about $1,599,000. Asset Management One Co. Ltd. grew its position in shares of Apollo Global Management by 6.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider’s stock worth $27,936,000 after buying an additional 10,876 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after buying an additional 340,956 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.