Wolfe Research Begins Coverage on Apollo Global Management (NYSE:APO)

Equities research analysts at Wolfe Research started coverage on shares of Apollo Global Management (NYSE:APO) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $139.00 price target on the financial services provider’s stock. Wolfe Research’s price target suggests a potential upside of 11.15% from the stock’s previous close.

A number of other research firms also recently issued reports on APO. Argus decreased their price objective on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Redburn Atlantic assumed coverage on Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. TD Cowen raised their price objective on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Finally, Evercore ISI increased their price target on shares of Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.65.

Apollo Global Management Stock Down 0.1 %

Shares of NYSE:APO opened at $125.06 on Wednesday. The firm has a market cap of $71.23 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.30 and a beta of 1.61. The business has a fifty day simple moving average of $113.72 and a 200 day simple moving average of $113.94. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management has a 12-month low of $77.11 and a 12-month high of $126.93.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period last year, the company posted $1.54 earnings per share. Analysts predict that Apollo Global Management will post 6.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Pauline Richards purchased 2,351 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Curated Wealth Partners LLC grew its holdings in shares of Apollo Global Management by 200.3% in the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after purchasing an additional 4,717,661 shares during the period. TD Asset Management Inc raised its holdings in shares of Apollo Global Management by 4,248.9% in the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after purchasing an additional 2,402,686 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after acquiring an additional 1,360,525 shares in the last quarter. Third Point LLC purchased a new position in Apollo Global Management in the fourth quarter valued at approximately $83,871,000. Finally, Vanguard Group Inc. boosted its stake in Apollo Global Management by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after acquiring an additional 750,781 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.