Apollo Global Management, LLC (APO) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Apollo Global Management, LLC (NYSE:APO) from a buy rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Apollo Management, L.P. operates as an alternative asset manager globally. The Company operates in three business segments: private equity, capital markets and real estate. It raises, invests and manages funds on behalf of pension and endowment funds, as well as other institutional and individual investors. Apollo Management, L.P. is headquartered in New York, New York. “

Several other research firms have also commented on APO. Oppenheimer Holdings, Inc. increased their price objective on shares of Apollo Global Management from $31.00 to $33.00 and gave the company an outperform rating in a research report on Friday, July 14th. BidaskClub upgraded shares of Apollo Global Management from a buy rating to a strong-buy rating in a research report on Monday, July 31st. JMP Securities reiterated an outperform rating and set a $32.00 price objective on shares of Apollo Global Management in a research report on Friday, August 4th. Keefe, Bruyette & Woods reiterated a buy rating and set a $33.00 price objective on shares of Apollo Global Management in a research report on Friday, July 14th. Finally, Citigroup Inc. increased their price objective on shares of Apollo Global Management from $35.50 to $38.00 and gave the company a buy rating in a research report on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apollo Global Management presently has a consensus rating of Buy and an average target price of $33.38.

Apollo Global Management (NYSE APO) opened at $30.39 on Wednesday. Apollo Global Management has a 12-month low of $18.75 and a 12-month high of $33.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.80 and a current ratio of 1.74. The company has a market cap of $5,902.97, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 1.02 and a beta of 1.23.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.51. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The business had revenue of $645.20 million during the quarter, compared to analyst estimates of $467.72 million. During the same quarter last year, the business earned $0.58 earnings per share. Apollo Global Management’s quarterly revenue was up 31.1% compared to the same quarter last year. equities research analysts forecast that Apollo Global Management will post 2.98 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Apollo Global Management, LLC (APO) Downgraded by Zacks Investment Research” was first published by BBNS and is the sole property of of BBNS. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://baseballnewssource.com/markets/apollo-global-management-llc-apo-downgraded-by-zacks-investment-research/1766035.html.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Tuesday, November 21st will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Monday, November 20th. Apollo Global Management’s dividend payout ratio is currently 67.97%.

In related news, major shareholder Tiger Global Management Llc purchased 253,672 shares of Apollo Global Management stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average price of $28.48 per share, with a total value of $7,224,578.56. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director A B. Krongard purchased 1,000 shares of Apollo Global Management stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average cost of $29.28 per share, for a total transaction of $29,280.00. The disclosure for this purchase can be found here. Company insiders own 4.11% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Stelac Advisory Services LLC purchased a new position in Apollo Global Management in the 3rd quarter worth about $117,000. NEXT Financial Group Inc increased its stake in Apollo Global Management by 106.5% in the 2nd quarter. NEXT Financial Group Inc now owns 6,400 shares of the financial services provider’s stock worth $169,000 after buying an additional 3,300 shares during the period. Penserra Capital Management LLC increased its stake in Apollo Global Management by 10.0% in the 2nd quarter. Penserra Capital Management LLC now owns 6,479 shares of the financial services provider’s stock worth $171,000 after buying an additional 589 shares during the period. Cowen Prime Services LLC increased its stake in Apollo Global Management by 400.0% in the 2nd quarter. Cowen Prime Services LLC now owns 7,500 shares of the financial services provider’s stock worth $198,000 after buying an additional 6,000 shares during the period. Finally, First Midwest Bank Trust Division purchased a new position in Apollo Global Management in the 3rd quarter worth about $232,000. 73.60% of the stock is currently owned by institutional investors.

About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

Get a free copy of the Zacks research report on Apollo Global Management (APO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Apollo Global Management (NYSE:APO)

Receive News & Ratings for Apollo Global Management LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management LLC and related companies with our FREE daily email newsletter.

 


Latest News

MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Brandon Morrow Becomes Hot Commodity
Brandon Morrow Becomes Hot Commodity


Leave a Reply

 
© 2006-2017 BBNS.