Apollo Global Management, LLC (NYSE:APO) had its price objective lifted by Credit Suisse Group from $32.00 to $35.00 in a report released on Thursday, November 2nd. They currently have a neutral rating on the financial services provider’s stock.
Several other equities analysts have also commented on the company. Citigroup Inc. upped their target price on Apollo Global Management from $35.50 to $38.00 and gave the company a buy rating in a report on Thursday, November 2nd. Wells Fargo & Company reaffirmed an outperform rating and set a $39.00 target price (up from $34.00) on shares of Apollo Global Management in a report on Thursday, November 2nd. Zacks Investment Research lowered Apollo Global Management from a buy rating to a hold rating in a report on Monday, October 23rd. Keefe, Bruyette & Woods reissued a buy rating and issued a $35.00 price objective on shares of Apollo Global Management in a report on Thursday, October 12th. Finally, Morgan Stanley reissued an equal weight rating and issued a $30.00 price objective (up from $28.00) on shares of Apollo Global Management in a report on Thursday, October 5th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $33.38.
Shares of Apollo Global Management (APO) traded up $0.24 on Thursday, hitting $30.16. The company’s stock had a trading volume of 998,341 shares, compared to its average volume of 1,252,512. The firm has a market capitalization of $5,840.00, a PE ratio of 8.79, a PEG ratio of 0.98 and a beta of 1.23. Apollo Global Management has a 12 month low of $18.90 and a 12 month high of $33.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.74 and a current ratio of 1.74.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.51. The firm had revenue of $645.20 million during the quarter, compared to analyst estimates of $467.72 million. Apollo Global Management had a return on equity of 64.11% and a net margin of 24.82%. Apollo Global Management’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. analysts predict that Apollo Global Management will post 2.98 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend is Monday, November 20th. Apollo Global Management’s payout ratio is 68.42%.
In other news, major shareholder Tiger Global Management Llc purchased 253,672 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was bought at an average cost of $28.48 per share, for a total transaction of $7,224,578.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A B. Krongard purchased 1,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were purchased at an average price of $29.28 per share, with a total value of $29,280.00. The disclosure for this purchase can be found here. Insiders have acquired 298,386 shares of company stock worth $8,529,433 over the last three months. Company insiders own 4.11% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in APO. Ameriprise Financial Inc. bought a new stake in shares of Apollo Global Management in the first quarter valued at about $234,000. Renaissance Technologies LLC lifted its stake in shares of Apollo Global Management by 4,255.2% in the first quarter. Renaissance Technologies LLC now owns 667,832 shares of the financial services provider’s stock valued at $16,242,000 after buying an additional 652,498 shares during the period. DnB Asset Management AS lifted its stake in shares of Apollo Global Management by 33.2% in the second quarter. DnB Asset Management AS now owns 144,900 shares of the financial services provider’s stock valued at $3,838,000 after buying an additional 36,100 shares during the period. Koshinski Asset Management Inc. bought a new stake in shares of Apollo Global Management in the second quarter valued at about $202,000. Finally, Bank of Montreal Can bought a new stake in shares of Apollo Global Management in the second quarter valued at about $54,333,000. Institutional investors and hedge funds own 71.94% of the company’s stock.
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.
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