Apollo Global Management (NYSE:APO) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Apollo Global Management (NYSE:APO) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Several other brokerages have also recently issued reports on APO. Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an outperform rating in a research note on Friday, July 12th. UBS Group lifted their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a neutral rating in a research report on Wednesday, July 10th. Bank of America upgraded Apollo Global Management from a neutral rating to a buy rating and cut their price objective for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. Evercore ISI raised their price objective on Apollo Global Management from $128.00 to $130.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Finally, TD Cowen boosted their target price on Apollo Global Management from $146.00 to $147.00 and gave the stock a buy rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $125.00.

Apollo Global Management Stock Up 1.5 %

Shares of APO stock opened at $104.70 on Thursday. Apollo Global Management has a 1 year low of $77.11 and a 1 year high of $126.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The business’s fifty day moving average is $117.06 and its 200-day moving average is $112.79. The stock has a market cap of $59.49 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.95 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last announced its earnings results 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 net margin of 21.90% and a return on equity of 17.97%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same period in the prior year, the business earned $1.54 EPS. Equities analysts expect that Apollo Global Management will post 7.09 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.77%. Apollo Global Management’s payout ratio is presently 20.49%.

Insider Buying and Selling at Apollo Global Management

In related news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DSM Capital Partners LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter worth $31,000. True Wealth Design LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $33,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $35,000. Vestmark Advisory Solutions Inc. bought a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $36,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in Apollo Global Management in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.