Apollo Global Management’s (APO) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Apollo Global Management, LLC (NYSE:APO)‘s stock had its “equal weight” rating reiterated by Morgan Stanley in a research note issued to investors on Monday. They presently have a $26.00 price objective on the financial services provider’s stock, up from their prior price objective of $25.00. Morgan Stanley’s price objective indicates a potential downside of 1.29% from the company’s previous close.

A number of other equities analysts also recently commented on APO. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $25.00 target price on shares of Apollo Global Management in a report on Friday, March 17th. Zacks Investment Research downgraded shares of Apollo Global Management from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Jefferies Group LLC upped their price objective on shares of Apollo Global Management from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, May 2nd. Goldman Sachs Group, Inc. (The) upped their price objective on shares of Apollo Global Management from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, June 7th. Finally, BidaskClub downgraded shares of Apollo Global Management from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $25.29.

Apollo Global Management (NYSE:APO) opened at 26.46 on Monday. Apollo Global Management has a 52 week low of $15.08 and a 52 week high of $28.42. The company has a 50 day moving average of $27.18 and a 200 day moving average of $23.97. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 8.70 and a beta of 1.22.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.19. Apollo Global Management had a net margin of 23.30% and a return on equity of 72.89%. The company had revenue of $641.55 million during the quarter, compared to analyst estimates of $570.83 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 431.0% compared to the same quarter last year. On average, equities analysts forecast that Apollo Global Management will post $2.55 EPS for the current fiscal year.

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In related news, CFO Martin Kelly sold 10,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $26.77, for a total value of $267,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tiger Global Management Llc acquired 450,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, April 11th. The stock was purchased at an average cost of $25.48 per share, with a total value of $11,466,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 8,029,013 shares of company stock worth $210,773,337 and have sold 1,260,000 shares worth $33,537,989. Company insiders own 4.11% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DnB Asset Management AS increased its position in Apollo Global Management by 33.2% in the second quarter. DnB Asset Management AS now owns 144,900 shares of the financial services provider’s stock valued at $3,838,000 after buying an additional 36,100 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Apollo Global Management during the first quarter worth about $52,393,000. Adalta Capital Management LLC bought a new stake in shares of Apollo Global Management during the first quarter worth about $396,000. HighTower Advisors LLC increased its stake in shares of Apollo Global Management by 0.8% in the first quarter. HighTower Advisors LLC now owns 68,399 shares of the financial services provider’s stock worth $1,666,000 after buying an additional 549 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Apollo Global Management by 52.7% in the first quarter. Jane Street Group LLC now owns 24,896 shares of the financial services provider’s stock worth $606,000 after buying an additional 8,596 shares during the period. 74.65% of the stock is owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

Analyst Recommendations for Apollo Global Management (NYSE:APO)

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