Apollo Global Management (NYSE:APO) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Apollo Global Management (NYSE:APO) had its price target trimmed by Keefe, Bruyette & Woods from $135.00 to $130.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

APO has been the subject of several other reports. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 target price on shares of Apollo Global Management in a research report on Wednesday. Bank of America decreased their price target on Apollo Global Management from $163.00 to $161.00 in a research note on Monday, October 5th. BMO Capital Markets lowered their price objective on Apollo Global Management from $134.00 to $124.00 and set a “market perform” rating for the company in a research report on Tuesday, October 27th. Royal Bank Of Canada lifted their price objective on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group reduced their target price on Apollo Global Management from $154.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.68.

Apollo Global Management Trading Down 0.4%

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

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 analysts’ consensus estimates of $2.16 by ($0.05). The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. During the same period in the previous year, the firm earned $1.92 earnings per share. Equities analysts forecast that Apollo Global Management will post 7.96 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Whitney Chatterjee sold 7,339 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $117.83, for a total value of $864,754.37. Following the completion of the sale, the insider directly owned 129,151 shares of the company’s stock, valued at approximately $15,217,862.33. This trade represents a 5.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apollo Global Management by 4.3% during 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 valued at $669,372,000 after acquiring an additional 234,517 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Apollo Global Management in the second quarter valued at about $459,987,000. Bank of New York Mellon Corp raised its holdings in shares of Apollo Global Management by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 2,901,110 shares of the financial services provider’s stock valued at $323,242,000 after purchasing an additional 188,668 shares during the last quarter. Temasek Holdings Private Ltd raised its holdings in shares of Apollo Global Management by 214.4% in the first 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 during the last quarter. Finally, Curated Wealth Partners LLC lifted its position in shares of Apollo Global Management by 91.8% during the third 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. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management News Roundup

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%

About Apollo Global Management

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.