Citigroup Lowers Apollo Global Management (NYSE:APO) Price Target to $138.00

Apollo Global Management (NYSE:APO - Get Free Report) had its price target cut by equities research analysts at Citigroup from $191.00 to $138.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Citigroup's price target would indicate a potential upside of 9.55% from the stock's current price.

Several other equities research analysts have also recently issued reports on APO. Wells Fargo & Company dropped their target price on shares of Apollo Global Management from $187.00 to $177.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. TD Cowen lifted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Morgan Stanley increased their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Barclays cut their price target on Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, BMO Capital Markets increased their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of "Moderate Buy" and a consensus target price of $157.95.

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Apollo Global Management Stock Performance

NYSE:APO traded up $2.04 during mid-day trading on Tuesday, reaching $125.97. The company's stock had a trading volume of 6,257,035 shares, compared to its average volume of 3,777,021. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $71.87 billion, a P/E ratio of 17.23, a PEG ratio of 1.17 and a beta of 1.66. The firm's fifty day moving average price is $141.67 and its two-hundred day moving average price is $153.45. Apollo Global Management has a 12-month low of $95.11 and a 12-month high of $189.49.

Insider Activity

In other Apollo Global Management news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This represents a 4,331.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Apollo Global Management

Several institutional investors have recently modified their holdings of APO. Vanguard Group Inc. lifted its position in Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock worth $7,454,560,000 after buying an additional 3,691,700 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares during the period. Northern Trust Corp boosted its stake in shares of Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after purchasing an additional 1,460,689 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Apollo Global Management by 60.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock worth $479,057,000 after purchasing an additional 1,094,464 shares during the period. 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.