Apollo Global Management (NYSE:APO) Price Target Raised to $137.00 at Morgan Stanley

Apollo Global Management (NYSE:APO) had its price objective raised by equities research analysts at Morgan Stanley from $111.00 to $137.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 2.31% from the company’s current price.

Several other brokerages also recently commented on APO. Evercore ISI lifted their target price on Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group upped their price objective on shares of Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. BMO Capital Markets increased their price objective on shares of Apollo Global Management from $123.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Argus lowered their price target on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.06.

Apollo Global Management Stock Performance

Shares of APO stock opened at $140.24 on Thursday. The company has a fifty day moving average price of $116.77 and a two-hundred day moving average price of $115.80. Apollo Global Management has a one year low of $77.11 and a one year high of $140.35. The stock has a market cap of $79.68 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.39 and a beta of 1.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter last year, the business posted $1.54 earnings per share. As a group, equities analysts predict that Apollo Global Management will post 6.66 EPS for the current year.

Insider Buying and Selling

In other news, Director Pauline Richards acquired 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apollo Global Management

Several hedge funds and other institutional investors have recently made changes to their positions in APO. Cullen Frost Bankers Inc. bought a new position in Apollo Global Management in the second quarter valued at approximately $35,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Apollo Global Management in the 3rd quarter valued at $35,000. J.Safra Asset Management Corp increased its stake in shares of Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 305 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Apollo Global Management during the 1st quarter worth $45,000. Finally, Compass Wealth Management LLC lifted its position in shares of Apollo Global Management by 48.7% during the 1st quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock worth $50,000 after buying an additional 146 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Apollo Global Management

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.