Apollo Global Management (NYSE:APO) Downgraded by Goldman Sachs Group to “Buy”

Goldman Sachs Group cut shares of Apollo Global Management (NYSE:APO) from a conviction-buy rating to a buy rating in a research note released on Tuesday, The Fly reports.

A number of other research analysts also recently issued reports on the stock. Barclays upped their target price on shares of Apollo Global Management from $40.00 to $42.00 and gave the company an overweight rating in a research report on Thursday, April 9th. Morgan Stanley upped their target price on shares of Apollo Global Management from $39.00 to $42.00 and gave the company an equal weight rating in a research report on Wednesday, May 6th. Cfra upped their target price on shares of Apollo Global Management from $43.00 to $48.00 and gave the company a buy rating in a research report on Wednesday, May 20th. Oppenheimer restated a hold rating on shares of Apollo Global Management in a research report on Monday, May 4th. Finally, Wells Fargo & Co upped their target price on shares of Apollo Global Management from $44.00 to $48.00 and gave the company an overweight rating in a research report on Wednesday, May 13th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $53.38.

Shares of NYSE APO opened at $47.88 on Tuesday. The firm’s 50-day simple moving average is $48.15 and its 200 day simple moving average is $43.88. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.50 and a beta of 1.64. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97. Apollo Global Management has a 12-month low of $19.46 and a 12-month high of $55.38.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.11). The company had revenue of $433.57 million for the quarter, compared to analyst estimates of $412.13 million. Apollo Global Management had a return on equity of 40.34% and a net margin of 31.68%. During the same quarter last year, the company earned $0.67 EPS. On average, equities analysts expect that Apollo Global Management will post 1.87 earnings per share for the current year.

In other Apollo Global Management news, COO Anthony Civale sold 4,121 shares of Apollo Global Management stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $48.17, for a total value of $198,508.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marc J. Rowan sold 85,679 shares of Apollo Global Management stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $40.21, for a total value of $3,445,152.59. The disclosure for this sale can be found here. Insiders have sold a total of 1,620,880 shares of company stock valued at $69,554,073 over the last ninety days. Company insiders own 46.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Apollo Global Management by 46.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 588,058 shares of the financial services provider’s stock worth $16,613,000 after acquiring an additional 186,658 shares during the period. State Street Corp acquired a new position in shares of Apollo Global Management in the fourth quarter worth approximately $5,601,000. Envestnet Asset Management Inc. lifted its stake in shares of Apollo Global Management by 258.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 74,453 shares of the financial services provider’s stock worth $3,552,000 after acquiring an additional 53,684 shares during the period. EAM Investors LLC lifted its stake in shares of Apollo Global Management by 4.8% in the fourth quarter. EAM Investors LLC now owns 40,449 shares of the financial services provider’s stock worth $1,930,000 after acquiring an additional 1,860 shares during the period. Finally, Southside Capital LLC acquired a new position in shares of Apollo Global Management in the fourth quarter worth approximately $9,068,000. 70.28% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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