Brokerages Set Apollo Global Management, LLC (APO) Price Target at $24.79

Apollo Global Management, LLC (NYSE:APO) has been given an average rating of “Buy” by the fourteen brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.79.

Several brokerages have commented on APO. Goldman Sachs Group, Inc. (The) lifted their price target on Apollo Global Management from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, June 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $25.00 price target on shares of Apollo Global Management in a research report on Friday, March 17th. Zacks Investment Research raised Apollo Global Management from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, April 18th. Finally, Jefferies Group LLC lifted their price target on Apollo Global Management from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd.

Apollo Global Management (NYSE:APO) traded down 0.69% during trading on Tuesday, reaching $27.30. The company’s stock had a trading volume of 664,256 shares. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 8.97 and a beta of 1.21. The stock’s 50-day moving average is $27.16 and its 200 day moving average is $23.68. Apollo Global Management has a 52-week low of $14.25 and a 52-week high of $28.42.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.19. Apollo Global Management had a return on equity of 72.89% and a net margin of 23.30%. The business had revenue of $641.55 million for the quarter, compared to the consensus estimate of $570.83 million. During the same period last year, the business earned ($0.18) EPS. The firm’s revenue was up 431.0% compared to the same quarter last year. On average, analysts predict that Apollo Global Management will post $2.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Friday, May 19th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 7.18%. The ex-dividend date of this dividend was Wednesday, May 17th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.45. Apollo Global Management’s dividend payout ratio (DPR) is presently 64.69%.

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In other news, major shareholder Tiger Global Management Llc acquired 73,800 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were bought at an average price of $27.41 per share, with a total value of $2,022,858.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Martin Kelly sold 10,000 shares of Apollo Global Management stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $26.77, for a total value of $267,700.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 10,060,813 shares of company stock worth $261,457,551 and have sold 1,260,000 shares worth $33,537,989. 4.11% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC raised its stake in shares of Apollo Global Management by 0.8% in the first quarter. HighTower Advisors LLC now owns 68,399 shares of the financial services provider’s stock valued at $1,666,000 after buying an additional 549 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Apollo Global Management by 5.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 19,457 shares of the financial services provider’s stock valued at $377,000 after buying an additional 1,076 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Apollo Global Management by 38.4% in the first quarter. TCI Wealth Advisors Inc. now owns 5,770 shares of the financial services provider’s stock valued at $140,000 after buying an additional 1,601 shares during the last quarter. SOL Capital Management CO raised its stake in shares of Apollo Global Management by 4.8% in the first quarter. SOL Capital Management CO now owns 43,600 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 2,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Apollo Global Management by 6.0% in the first quarter. PNC Financial Services Group Inc. now owns 41,252 shares of the financial services provider’s stock valued at $1,003,000 after buying an additional 2,350 shares during the last quarter. 74.65% of the stock is currently owned by institutional investors.

Apollo Global Management Company Profile

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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