Apollo Global Management (NYSE:APO) Upgraded by HSBC to “Strong-Buy” Rating

Apollo Global Management (NYSE:APO) was upgraded by HSBC to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on APO. Morgan Stanley cut their price target on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. TD Cowen cut their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Wall Street Zen cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Barclays increased their price target on shares of Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold 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 $149.15.

Apollo Global Management Price Performance

Shares of APO stock opened at $118.28 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management has a fifty-two week low of $99.56 and a fifty-two week high of $153.43. The firm has a market cap of $68.19 billion, a P/E ratio of 75.34, a P/E/G ratio of 1.04 and a beta of 1.50. The business’s 50 day moving average price is $127.28 and its 200-day moving average price is $124.71.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 earnings per share. On average, equities research analysts anticipate that Apollo Global Management will post 8.23 earnings per share for the current year.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors have recently added to or reduced their stakes in the stock. Mitchell & Pahl Private Wealth LLC lifted its holdings in Apollo Global Management by 0.8% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock valued at $1,383,000 after purchasing an additional 80 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Apollo Global Management by 16.9% in the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 82 shares during the last quarter. United Advisor Group LLC lifted its position in Apollo Global Management by 4.7% during the fourth quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock worth $282,000 after buying an additional 87 shares during the period. Broadway Wealth Solutions Inc. boosted its stake in Apollo Global Management by 3.8% in the 4th quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider’s stock worth $346,000 after buying an additional 87 shares during the last quarter. Finally, First Horizon Corp grew its holdings in Apollo Global Management by 8.1% in the 4th quarter. First Horizon Corp now owns 1,228 shares of the financial services provider’s stock valued at $178,000 after buying an additional 92 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.