Shares of Apollo Global Management, LLC (NYSE:APO) have received an average recommendation of “Buy” from the sixteen analysts that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.61.
A number of research firms have commented on APO. Morgan Stanley raised their target price on shares of Apollo Global Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. JMP Securities restated an “outperform” rating and set a $32.00 target price on shares of Apollo Global Management in a research note on Friday, August 4th. UBS AG restated a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Apollo Global Management in a research note on Friday, August 4th. Deutsche Bank AG raised their target price on shares of Apollo Global Management from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 3rd.
Apollo Global Management (NYSE:APO) traded down 0.25% during mid-day trading on Tuesday, hitting $28.45. 546,537 shares of the stock traded hands. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 11.11 and a beta of 1.22. Apollo Global Management has a 1-year low of $17.38 and a 1-year high of $30.75. The company’s 50 day moving average price is $28.98 and its 200-day moving average price is $26.50.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The business had revenue of $432.87 million during the quarter, compared to the consensus estimate of $455.29 million. During the same quarter last year, the company earned $0.98 EPS. Apollo Global Management’s revenue for the quarter was down 34.5% on a year-over-year basis. Analysts predict that Apollo Global Management will post $2.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $2.08 annualized dividend and a dividend yield of 7.31%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.49. Apollo Global Management’s dividend payout ratio (DPR) is presently 81.25%.
In other Apollo Global Management news, Director A B. Krongard bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $29.28 per share, with a total value of $29,280.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tiger Global Management Llc bought 261,429 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $27.93 per share, with a total value of $7,301,711.97. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,146,246 shares of company stock worth $31,986,240. Company insiders own 4.11% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Apollo Global Management by 20.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,279 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 4,460 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Apollo Global Management in the second quarter valued at $455,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Apollo Global Management in the second quarter valued at $1,810,000. Janus Henderson Group PLC purchased a new position in shares of Apollo Global Management in the second quarter valued at $15,887,000. Finally, Capital World Investors grew its holdings in shares of Apollo Global Management by 16.5% in the second quarter. Capital World Investors now owns 7,649,700 shares of the financial services provider’s stock valued at $202,335,000 after purchasing an additional 1,082,313 shares in the last quarter. 73.60% of the stock is owned by hedge funds and other institutional investors.
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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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