Apollo Global Management, Inc. (NYSE:APO) Receives $122.77 Average PT from Brokerages

Shares of Apollo Global Management, Inc. (NYSE:APO) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $125.00.

Several brokerages recently weighed in on APO. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Financial Group cut their target price on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their target price on Apollo Global Management from $130.00 to $129.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Barclays cut their target price on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised their target price on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th.

Insider Buying and Selling

In other news, Director Pauline Richards bought 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Apollo Global Management

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Apollo Global Management by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares during the period. Capital International Investors increased its stake in Apollo Global Management by 2.1% in the 4th quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock worth $1,004,161,000 after purchasing an additional 218,566 shares during the period. Norges Bank purchased a new position in Apollo Global Management in the 4th quarter worth approximately $586,016,000. Putnam Investments LLC increased its stake in Apollo Global Management by 2.8% in the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock worth $553,476,000 after purchasing an additional 164,400 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Apollo Global Management by 40.3% during the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after buying an additional 1,360,525 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.1 %

Shares of APO opened at $103.19 on Friday. The business has a 50-day moving average of $117.29 and a 200 day moving average of $112.61. Apollo Global Management has a fifty-two week low of $77.11 and a fifty-two week high of $126.45. The firm has a market cap of $58.63 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.95 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a return on equity of 17.97% and a net margin of 21.90%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. During the same period last year, the business posted $1.54 EPS. As a group, research analysts forecast that Apollo Global Management will post 7.09 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.4625 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.79%. Apollo Global Management’s payout ratio is 20.49%.

About Apollo Global Management

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.