Morgan Stanley Boosts Apollo Global Management (NYSE:APO) Price Target to $36.00

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Apollo Global Management (NYSE:APO) had its price target lifted by Morgan Stanley from $33.00 to $36.00 in a research note published on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

APO has been the subject of several other research reports. Credit Suisse Group lowered their price objective on shares of Athene from $67.00 to $57.00 and set an outperform rating for the company in a research report on Tuesday, May 21st. Zacks Investment Research downgraded shares of GenMark Diagnostics from a hold rating to a sell rating in a research report on Wednesday, April 24th. ValuEngine raised shares of Alleghany from a hold rating to a buy rating in a research report on Friday, April 19th. JMP Securities increased their target price on Apollo Global Management from $36.00 to $40.00 and gave the company a market outperform rating in a research note on Friday, June 7th. Finally, TheStreet cut Viewray from a c- rating to a d rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $39.00.

Shares of NYSE:APO opened at $35.86 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.46 and a quick ratio of 1.46. Apollo Global Management has a 52-week low of $22.63 and a 52-week high of $36.49. The firm has a 50 day moving average price of $33.21. The firm has a market capitalization of $7.19 billion, a P/E ratio of -170.76, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.11). The business had revenue of $677.78 million for the quarter, compared to the consensus estimate of $695.30 million. During the same period last year, the business earned ($0.30) earnings per share. The firm’s quarterly revenue was up 306.1% compared to the same quarter last year. On average, equities research analysts anticipate that Apollo Global Management will post 2.38 EPS for the current year.

In other Apollo Global Management news, Director A B. Krongard bought 1,790 shares of Apollo Global Management stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $32.41 per share, for a total transaction of $58,013.90. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 49.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment Corp IL lifted its stake in Apollo Global Management by 0.5% in the second quarter. Rothschild Investment Corp IL now owns 80,577 shares of the financial services provider’s stock valued at $2,764,000 after buying an additional 400 shares during the last quarter. Arlington Partners LLC bought a new stake in Apollo Global Management in the second quarter valued at $34,000. DNB Asset Management AS lifted its stake in Apollo Global Management by 0.8% in the second quarter. DNB Asset Management AS now owns 149,600 shares of the financial services provider’s stock valued at $5,131,000 after buying an additional 1,200 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Apollo Global Management by 46.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 588,058 shares of the financial services provider’s stock valued at $16,613,000 after buying an additional 186,658 shares during the last quarter. Finally, Cerebellum GP LLC lifted its stake in Apollo Global Management by 8.8% in the first quarter. Cerebellum GP LLC now owns 11,439 shares of the financial services provider’s stock valued at $323,000 after buying an additional 929 shares during the last quarter. Institutional investors own 73.41% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Analyst Recommendations for Apollo Global Management (NYSE:APO)

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