Piper Sandler Has Lowered Expectations for Apollo Global Management (NYSE:APO) Stock Price

Apollo Global Management (NYSE:APO) had its target price reduced by analysts at Piper Sandler from $193.00 to $174.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 34.48% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. TD Cowen dropped their target price on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. UBS Group lowered their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Morgan Stanley cut their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $155.85.

Apollo Global Management Stock Down 3.4 %

NYSE APO opened at $129.39 on Monday. The stock has a 50 day moving average price of $132.55 and a 200-day moving average price of $152.80. Apollo Global Management has a one year low of $95.11 and a one year high of $189.49. The company has a market capitalization of $73.81 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.17 and a beta of 1.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management (NYSE:APO) last posted its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same quarter last year, the firm earned $1.72 earnings per share. The business’s quarterly revenue was down 21.2% on a year-over-year basis. As a group, equities analysts predict that Apollo Global Management will post 8 EPS for the current fiscal year.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Apollo Global Management

A number of institutional investors have recently made changes to their positions in APO. World Investment Advisors LLC grew its stake in shares of Apollo Global Management by 1.8% during the third quarter. World Investment Advisors LLC now owns 6,823 shares of the financial services provider’s stock worth $852,000 after acquiring an additional 119 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Apollo Global Management during the 3rd quarter valued at approximately $503,000. GAMMA Investing LLC raised its holdings in shares of Apollo Global Management by 10.4% in the fourth quarter. GAMMA Investing LLC now owns 2,768 shares of the financial services provider’s stock worth $457,000 after buying an additional 260 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Apollo Global Management during the fourth quarter worth $261,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at $97,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.