Apollo Global Management (NYSE:APO) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Apollo Global Management (NYSE:APO) from a sell rating to a hold rating in a report published on Monday morning.

A number of other research analysts have also recently commented on APO. Keefe, Bruyette & Woods upped their price target on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an outperform rating in a report on Friday, July 12th. UBS Group increased their target price on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a neutral rating in a report on Wednesday, July 10th. BMO Capital Markets increased their target price on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an outperform rating in a report on Friday, April 5th. Barclays dropped their target price on shares of Apollo Global Management from $133.00 to $131.00 and set an overweight rating on the stock in a report on Friday, May 3rd. Finally, Jefferies Financial Group dropped their target price on shares of Apollo Global Management from $119.00 to $117.00 and set a hold rating on the stock in a report on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $119.29.

Apollo Global Management Trading Down 7.4 %

NYSE APO opened at $116.01 on Monday. The company’s 50-day moving average price is $118.57 and its 200-day moving average price is $112.41. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The stock has a market cap of $65.91 billion, a PE ratio of 12.85, a PEG ratio of 1.01 and a beta of 1.59. Apollo Global Management has a 12 month low of $77.11 and a 12 month high of $126.45.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $827.33 million. Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. Equities research analysts forecast that Apollo Global Management will post 7.09 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the transaction, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc raised its position in Apollo Global Management by 7.9% during the 2nd quarter. CIBC Asset Management Inc now owns 18,195 shares of the financial services provider’s stock worth $2,148,000 after buying an additional 1,337 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Apollo Global Management by 9.3% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,055 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 259 shares during the period. Natixis Advisors LLC grew its stake in shares of Apollo Global Management by 13.9% during the 2nd quarter. Natixis Advisors LLC now owns 150,388 shares of the financial services provider’s stock worth $17,757,000 after purchasing an additional 18,358 shares during the period. Essex Financial Services Inc. grew its stake in shares of Apollo Global Management by 28.7% during the 2nd quarter. Essex Financial Services Inc. now owns 2,988 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 667 shares during the period. Finally, Graypoint LLC acquired a new stake in shares of Apollo Global Management during the 2nd quarter worth approximately $209,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Company Profile

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.