Argus Lowers Apollo Global Management (NYSE:APO) Price Target to $125.00

Apollo Global Management (NYSE:APO) had its price target dropped by research analysts at Argus from $135.00 to $125.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Argus’ price target would suggest a potential upside of 13.07% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. Evercore ISI raised their price target on shares of Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Barclays decreased their price objective on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, UBS Group increased their price objective on Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.64.

Apollo Global Management Price Performance

Apollo Global Management stock traded down $1.06 during midday trading on Tuesday, reaching $110.55. 59,488 shares of the stock were exchanged, compared to its average volume of 2,515,145. Apollo Global Management has a 52 week low of $77.11 and a 52 week high of $126.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $62.81 billion, a PE ratio of 12.30, a PEG ratio of 0.95 and a beta of 1.59. The company’s fifty day moving average is $116.18 and its 200-day moving average is $113.19.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a return on equity of 17.97% and a net margin of 21.90%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. During the same period in the previous year, the firm posted $1.54 EPS. On average, sell-side analysts forecast that Apollo Global Management will post 7.09 EPS for the current year.

Insider Buying and Selling

In related news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 8.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apollo Global Management

A number of hedge funds have recently made changes to their positions in the company. CWA Asset Management Group LLC grew its holdings in shares of Apollo Global Management by 2.8% in the fourth quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 94 shares during the period. Zhang Financial LLC boosted its holdings in Apollo Global Management by 0.6% in the 1st quarter. Zhang Financial LLC now owns 17,724 shares of the financial services provider’s stock valued at $1,993,000 after purchasing an additional 97 shares during the last quarter. FineMark National Bank & Trust grew its stake in shares of Apollo Global Management by 2.4% in the 2nd quarter. FineMark National Bank & Trust now owns 4,117 shares of the financial services provider’s stock valued at $486,000 after buying an additional 98 shares during the period. Orion Capital Management LLC increased its holdings in shares of Apollo Global Management by 20.0% during the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after buying an additional 100 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Apollo Global Management by 8.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock worth $147,000 after buying an additional 102 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

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.