Apollo Global Management (NYSE:APO) Stock Gets Price Target Reduction from Morgan Stanley

Apollo Global Management (NYSE:APO) had its price objective trimmed by Morgan Stanley from $150.00 to $149.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group dropped their price target on shares of Apollo Global Management from $154.00 to $148.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. HSBC assumed coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective for the company. TD Cowen reduced their price objective on shares of Apollo Global Management from $154.00 to $136.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays lowered their target price on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Rothschild & Co Redburn increased their target price on Apollo Global Management from $171.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.68.

Apollo Global Management Stock Performance

NYSE:APO traded down $0.49 on Wednesday, reaching $116.78. 3,319,427 shares of the company’s stock were exchanged, compared to its average volume of 3,667,484. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market cap of $68.96 billion, a price-to-earnings ratio of -63.81, a P/E/G ratio of 1.10 and a beta of 1.51. Apollo Global Management has a 52 week low of $99.56 and a 52 week high of $153.29. The stock has a fifty day simple moving average of $120.79 and a 200-day simple moving average of $122.95.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the business earned $1.92 EPS. As a group, sell-side analysts predict that Apollo Global Management will post 7.96 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.5625 per share. The ex-dividend date is Wednesday, November 18th. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. Apollo Global Management’s dividend payout ratio is currently -122.95%.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Whitney Chatterjee sold 7,339 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $117.83, for a total transaction of $864,754.37. Following the transaction, the insider directly owned 129,151 shares of the company’s stock, valued at approximately $15,217,862.33. This represents a 5.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.30% of the company’s stock.

Institutional Trading of Apollo Global Management

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apollo Global Management by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider’s stock worth $669,372,000 after purchasing an additional 234,517 shares in the last quarter. Legal & General Group Plc bought a new position in Apollo Global Management in the 2nd quarter valued at $459,987,000. Bank of New York Mellon Corp purchased a new position in shares of Apollo Global Management during the 2nd quarter valued at $336,644,000. Temasek Holdings Private Ltd grew its position in shares of Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Finally, Curated Wealth Partners LLC grew its position in shares of Apollo Global Management by 91.8% during the 3rd quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after purchasing an additional 1,055,818 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

More Apollo Global Management News

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: JPMorgan Chase raised its price target on Apollo, offering a counterpoint to recent analyst reductions. The available report does not specify the new target. Article: Apollo Global Management Stock Gets Price Target Increase from JPMorgan Chase
• Positive Sentiment: UBS and Argus both maintained “buy” ratings despite lowering their targets: UBS cut its target from $163 to $160, while Argus reduced its target from $160 to $140. Their continued buy ratings indicate both firms still see potential upside from the referenced $116.78 share price. Read More. · Read More.
• Neutral Sentiment: Apollo and Goldman Sachs are reportedly seeking buyers for a roughly $40 billion SpaceX AI-chip financing deal. The potential transaction could create financing opportunities, but it remains a reported effort to place the deal, not a confirmed completed investment. Article: Goldman, Apollo in talks to sell SpaceX’s AI deal
• Neutral Sentiment: Nvidia is reportedly interested in Apollo’s struggling telecom sites as potential data-center locations. A sale or other deal could help monetize the assets, though no agreement was reported. Article: Nvidia Eyes Apollo’s Struggling Telecom Sites
• Negative Sentiment: RBC issued a pessimistic forecast, while Keefe, Bruyette & Woods and Barclays lowered their expectations for APO. Together with the Argus and UBS target cuts, the revisions point to more cautious analyst sentiment, even as some firms retain buy ratings. Read More. · Read More. · Read More.
• Negative Sentiment: A report highlighted a 6.7% one-session decline in Apollo shares, underscoring recent volatility; the article listing did not identify a specific cause for that drop. Article: Apollo Global Management Drops 6.7%

Apollo Global Management Company Profile

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform.

Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.