Apollo Global Management (NYSE:APO) Stock Price Target Lowered at Royal Bank Of Canada

Apollo Global Management (NYSE:APO) had its price target dropped by investment analysts at Royal Bank Of Canada from $146.00 to $138.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada‘s target price indicates a potential upside of 15.12% from the company’s current price.

Other equities research analysts have also issued research reports about the company. HSBC started coverage on Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 price objective on the stock. UBS Group dropped their target price on Apollo Global Management from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Tuesday, October 13th. JPMorgan Chase & Co. lifted their price target on Apollo Global Management from $150.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. The Goldman Sachs Group reduced their price target on Apollo Global Management from $154.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Finally, BMO Capital Markets lowered their price objective on Apollo Global Management from $134.00 to $124.00 and set a “market perform” rating for the company in a research note on Tuesday, October 27th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $148.85.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock traded up $6.32 during midday trading on Wednesday, hitting $119.87. 1,998,462 shares of the company traded hands, compared to its average volume of 4,217,805. The firm’s fifty day moving average price is $121.66 and its 200-day moving average price is $123.30. The stock has a market cap of $70.79 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 1.10 and a beta of 1.51. Apollo Global Management has a 12 month low of $99.56 and a 12 month high of $153.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the company posted $1.92 earnings per share. As a group, sell-side analysts forecast that Apollo Global Management will post 7.96 earnings per share for the current year.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds have recently made changes to their positions in the stock. Saudi Central Bank raised its holdings in Apollo Global Management by 82.6% during the 2nd quarter. Saudi Central Bank now owns 29,346 shares of the financial services provider’s stock worth $3,472,000 after purchasing an additional 13,278 shares during the last quarter. Nykredit A S bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $14,515,000. Cooper Financial Group boosted its stake in shares of Apollo Global Management by 1,194.5% in the 3rd quarter. Cooper Financial Group now owns 48,143 shares of the financial services provider’s stock valued at $5,587,000 after purchasing an additional 44,424 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Apollo Global Management during the second quarter worth $172,290,000. Finally, NewEdge Advisors LLC increased its position in shares of Apollo Global Management by 130.0% during the second quarter. NewEdge Advisors LLC now owns 41,404 shares of the financial services provider’s stock worth $4,899,000 after buying an additional 23,400 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management News Roundup

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Fee-related earnings reached $802 million in Q3, while origination volume hit a record $114 billion. Apollo also reported $1.07 trillion in assets, reflecting demand for alternative investments. Article: Apollo Global: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Apollo is expanding private-credit origination with a new European lending platform, supporting its goal of significantly growing credit assets. Article: Apollo Taps European Private Credit Markets With New Lending Platform
• Neutral Sentiment: The company declared a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually. Apollo also plans a $350 million software overhaul for its private-credit trading operations, an investment that could support efficiency but entails costs. Article: Apollo to Spend $350 Million on Software Overhaul
• Negative Sentiment: Q3 adjusted earnings per share fell short of analyst expectations, and Apollo posted a $1.06 billion net loss attributable to common shareholders, versus a profit a year earlier, due to investment-related losses. The earnings miss and rising expenses are the clearest near-term negatives for the stock. Article: Apollo Global Swings to a Loss on Investment-Related Losses
• Negative Sentiment: Keefe, Bruyette & Woods lowered its price target from $135 to $130 and maintained a “market perform” rating. The reduced target signals more limited analyst conviction, although it still implies upside from the cited share price. Analyst ratings

About Apollo Global Management

Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.