TD Cowen Boosts Apollo Global Management (NYSE:APO) Price Target to $147.00

Apollo Global Management (NYSE:APO) had its target price boosted by investment analysts at TD Cowen from $146.00 to $147.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 26.00% from the stock’s previous close.

A number of other brokerages also recently weighed in on APO. Evercore ISI lifted their target price on Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Barclays dropped their price objective on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their target price on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $118.08.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $116.67 on Monday. The stock’s 50 day moving average is $115.33 and its 200 day moving average is $109.35. Apollo Global Management has a one year low of $75.39 and a one year high of $120.80. The firm has a market cap of $66.29 billion, a P/E ratio of 12.92, a P/E/G ratio of 0.98 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. The firm had revenue of $839.00 million for the quarter, compared to the consensus estimate of $827.33 million. As a group, research analysts expect that Apollo Global Management will post 7.14 EPS for the current year.

Insider Activity

In related news, CFO Martin Kelly sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of the sale, the chief financial officer now owns 359,445 shares in the company, valued at $40,002,634.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Apollo Global Management by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after buying an additional 750,781 shares during the last quarter. Capital International Investors grew its holdings in shares of Apollo Global Management by 2.1% in the fourth quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock valued at $1,004,161,000 after acquiring an additional 218,566 shares in the last quarter. Norges Bank purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $586,016,000. Putnam Investments LLC lifted its holdings in Apollo Global Management by 2.8% during the fourth quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock worth $553,476,000 after acquiring an additional 164,400 shares during the period. Finally, Capital Research Global Investors boosted its position in Apollo Global Management by 40.3% in the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after purchasing an additional 1,360,525 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.