Apollo Global Management (NYSE:APO) Price Target Cut to $140.00 by Analysts at Argus

Apollo Global Management (NYSE:APO) had its target price dropped by stock analysts at Argus from $160.00 to $140.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Argus‘s target price suggests a potential upside of 20.23% from the stock’s current price.

APO has been the subject of a number of other research reports. Rothschild & Co Redburn upped their price objective on Apollo Global Management from $171.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada decreased their target price on Apollo Global Management from $146.00 to $138.00 and set a “sector perform” rating for the company in a research report on Wednesday. Wall Street Zen upgraded Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. HSBC began coverage on shares of Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, BMO Capital Markets cut their price target on shares of Apollo Global Management from $134.00 to $124.00 and set a “market perform” rating on the stock in a report on Tuesday, October 27th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Apollo Global Management Stock Performance

Shares of APO stock traded down $0.83 during trading on Friday, hitting $116.44. The company’s stock had a trading volume of 766,786 shares, compared to its average volume of 4,236,212. The company has a market cap of $68.77 billion, a PE ratio of -63.50, a P/E/G ratio of 1.13 and a beta of 1.51. The company has a current ratio of 1.41, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average of $121.12 and a 200-day moving average of $123.06. Apollo Global Management has a 52 week low of $99.56 and a 52 week high of $153.29.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a positive return on equity of 12.11% and a negative net margin of 2.98%. During the same quarter last year, the business posted $1.92 earnings per share. As a group, research analysts anticipate that Apollo Global Management will post 7.96 earnings per share for the current year.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

Several hedge funds have recently made changes to their positions in the stock. Saudi Central Bank boosted its stake in Apollo Global Management by 82.6% in 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 period. Nykredit A S purchased a new position in Apollo Global Management during the 2nd quarter valued at about $14,515,000. Cooper Financial Group grew its holdings in Apollo Global Management by 1,194.5% during the 3rd quarter. Cooper Financial Group now owns 48,143 shares of the financial services provider’s stock valued at $5,587,000 after buying an additional 44,424 shares in the last quarter. Deutsche Bank AG purchased a new position in Apollo Global Management during the 2nd quarter valued at about $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 valued at $4,899,000 after buying an additional 23,400 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Apollo Global Management

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

• Positive Sentiment: JPMorgan raised its price target to $157 from $153 and maintained an “overweight” rating, signaling continued confidence in Apollo’s prospects. JPMorgan price-target increase
• Positive Sentiment: Apollo and Goldman Sachs are reportedly seeking buyers for a roughly $40 billion SpaceX AI-chip financing deal. If completed, the transaction could create business opportunities for Apollo, though details and Apollo’s expected role remain uncertain. Goldman and Apollo SpaceX financing report
• Neutral Sentiment: A report says Nvidia is considering Apollo’s telecom sites for data-center needs. This could raise the value or relevance of Apollo-owned assets, but the report does not establish a deal. Nvidia and Apollo telecom sites report
• Negative Sentiment: Several firms have tempered expectations. UBS lowered its target to $160 from $163 but kept a “buy” rating; RBC cut its target to $138 from $146 and rated the stock “sector perform,” while Barclays and Keefe, Bruyette & Woods also issued more cautious views. RBC forecast Keefe, Bruyette and Woods outlook Barclays outlook
• Negative Sentiment: A report noted APO had dropped 6.7% in one session, highlighting recent selling pressure amid the cautious analyst commentary. Report on Apollo’s share decline

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.