Jefferies Financial Group Lowers Apollo Global Management (NYSE:APO) Price Target to $117.00

Apollo Global Management (NYSE:APO) had its price objective cut by research analysts at Jefferies Financial Group from $119.00 to $117.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 4.29% from the stock’s previous close.

A number of other brokerages also recently issued reports on APO. Keefe, Bruyette & Woods upped their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. increased their price target on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Barclays cut their price objective on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Finally, Citigroup lifted their price target on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.62.

Apollo Global Management Stock Down 1.0 %

NYSE APO traded down $1.13 on Thursday, hitting $112.19. 2,242,576 shares of the company were exchanged, compared to its average volume of 2,357,835. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. The company has a market cap of $63.74 billion, a PE ratio of 12.40, a PEG ratio of 0.92 and a beta of 1.61. The stock has a fifty day moving average of $111.20 and a 200-day moving average of $100.64. Apollo Global Management has a 12 month low of $61.98 and a 12 month high of $117.15.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The business had revenue of $795.00 million during the quarter, compared to analyst estimates of $823.27 million. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. As a group, analysts forecast that Apollo Global Management will post 7.43 earnings per share for the current year.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total value of $55,720,000.00. Following the sale, the insider now directly owns 44,104,773 shares of the company’s stock, valued at $4,915,035,903.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total value of $55,720,000.00. Following the completion of the sale, the insider now directly owns 44,104,773 shares of the company’s stock, valued at approximately $4,915,035,903.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,426,000 shares of company stock valued at $158,226,960. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Apollo Global Management during the 4th quarter valued at about $586,016,000. TD Asset Management Inc boosted its stake in shares of Apollo Global Management by 4,248.9% during the fourth quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after purchasing an additional 2,402,686 shares during the period. FMR LLC grew its holdings in shares of Apollo Global Management by 18.9% in the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock worth $892,973,000 after purchasing an additional 1,584,201 shares during the last quarter. PointState Capital LP purchased a new position in shares of Apollo Global Management in the third quarter worth $98,382,000. Finally, Third Point LLC bought a new stake in Apollo Global Management during the 4th quarter valued at $83,871,000. 77.06% of the stock is currently 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 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.