Apollo Global Management (APO) Given New $41.00 Price Target at Morgan Stanley

Apollo Global Management (NYSE:APO) had its target price reduced by equities research analysts at Morgan Stanley from $42.00 to $41.00 in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 33.42% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Deutsche Bank decreased their price objective on Apollo Global Management from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, April 6th. Zacks Investment Research cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Wednesday, April 4th. Citigroup upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, March 12th. Credit Suisse Group raised their target price on shares of Apollo Global Management from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Finally, ValuEngine upgraded shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Apollo Global Management currently has an average rating of “Buy” and a consensus price target of $36.67.

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Shares of NYSE APO opened at $30.73 on Tuesday. The stock has a market capitalization of $5,997.71, a PE ratio of 8.61, a P/E/G ratio of 0.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.26 and a quick ratio of 2.26. Apollo Global Management has a fifty-two week low of $24.83 and a fifty-two week high of $37.35.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.55. The company had revenue of $869.50 million during the quarter, compared to analysts’ expectations of $599.38 million. Apollo Global Management had a return on equity of 62.94% and a net margin of 23.92%. Apollo Global Management’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. sell-side analysts forecast that Apollo Global Management will post 3.09 EPS for the current fiscal year.

In other Apollo Global Management news, insider Joshua Harris sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $34.00, for a total transaction of $153,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $34.25, for a total transaction of $513,750.00. The disclosure for this sale can be found here. Insiders sold a total of 5,091,842 shares of company stock valued at $173,113,138 over the last quarter. 4.11% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $2,482,000. Delek Group Ltd. acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $6,684,000. Slow Capital Inc. acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $1,820,000. Banco de Sabadell S.A acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $1,367,000. Finally, Bramshill Investments LLC acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $1,802,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.

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Apollo Global Management Company Profile

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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