Apollo Global Management (NYSE:APO) Price Target Raised to $36.00

Apollo Global Management (NYSE:APO) had its target price upped by Morgan Stanley from $33.00 to $36.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the financial services provider’s stock.

APO has been the topic of several other reports. TheStreet lowered shares of Viewray from a c- rating to a d rating in a research note on Friday, May 3rd. ValuEngine upgraded shares of Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. JMP Securities increased their price target on shares of Apollo Global Management from $36.00 to $40.00 and gave the company a market outperform rating in a research note on Friday, June 7th. Zacks Investment Research lowered shares of GenMark Diagnostics from a hold rating to a sell rating in a research note on Wednesday, April 24th. Finally, Credit Suisse Group dropped their price target on shares of Athene from $67.00 to $57.00 and set an outperform rating on the stock in a research note on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Apollo Global Management currently has an average rating of Buy and an average price target of $39.00.

APO stock opened at $35.81 on Tuesday. The stock’s 50 day moving average price is $33.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.46 and a quick ratio of 1.46. Apollo Global Management has a fifty-two week low of $22.63 and a fifty-two week high of $36.49. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 62.91, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52.



Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.11). The company had revenue of $677.78 million for the quarter, compared to analysts’ expectations of $695.30 million. The business’s revenue for the quarter was up 306.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) EPS. As a group, sell-side analysts forecast that Apollo Global Management will post 2.38 earnings per share for the current fiscal year.

In related news, Director A B. Krongard purchased 1,790 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $32.41 per share, for a total transaction of $58,013.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 49.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. PM CAPITAL Ltd boosted its holdings in shares of Apollo Global Management by 15.1% in the first quarter. PM CAPITAL Ltd now owns 1,411,922 shares of the financial services provider’s stock valued at $39,886,000 after acquiring an additional 185,000 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Apollo Global Management by 46.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 588,058 shares of the financial services provider’s stock valued at $16,613,000 after acquiring an additional 186,658 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in shares of Apollo Global Management in the first quarter valued at approximately $210,000. Two Sigma Investments LP boosted its holdings in shares of Apollo Global Management by 4.6% in the fourth quarter. Two Sigma Investments LP now owns 39,287 shares of the financial services provider’s stock valued at $964,000 after acquiring an additional 1,733 shares during the period. Finally, Ellis Investment Partners LLC acquired a new stake in shares of Apollo Global Management in the first quarter valued at approximately $60,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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