Barclays Cuts Apollo Global Management (NYSE:APO) Price Target to $145.00

Apollo Global Management (NYSE:APO) had its price objective dropped by stock analysts at Barclays from $196.00 to $145.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 30.00% from the company’s previous close.

APO has been the subject of a number of other reports. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. BMO Capital Markets boosted their price target on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Piper Sandler reduced their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $165.37.

Apollo Global Management Stock Performance

NYSE:APO traded up $2.86 on Monday, hitting $111.54. The stock had a trading volume of 2,470,709 shares, compared to its average volume of 3,630,340. The business’s 50-day simple moving average is $148.49 and its two-hundred day simple moving average is $154.07. The stock has a market cap of $63.63 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apollo Global Management

Institutional investors and hedge funds have recently modified their holdings of the business. Ellevest Inc. increased its stake in shares of Apollo Global Management by 1.5% during the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock valued at $735,000 after buying an additional 67 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after buying an additional 71 shares in the last quarter. Vivaldi Capital Management LP lifted its position in Apollo Global Management by 2.1% during the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 71 shares during the last quarter. Tower Wealth Partners Inc. boosted its stake in Apollo Global Management by 4.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 74 shares in the last quarter. Finally, Sfmg LLC grew its holdings in Apollo Global Management by 1.1% in the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after purchasing an additional 79 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.