Apollo Global Management LLC (APO) Shares Down 2.3%
Shares of Apollo Global Management LLC (NYSE:APO) traded down 2.3% during mid-day trading on Friday . The company traded as low as $18.17 and last traded at $18.21, with a volume of 577,616 shares traded. The stock had previously closed at $18.64.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Argus lifted their price target on Apollo Global Management from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Vetr lowered Apollo Global Management from a “strong-buy” rating to a “buy” rating and set a $20.34 price target on the stock. in a research note on Monday, August 8th. Oppenheimer Holdings Inc. raised Apollo Global Management from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $17.61 to $19.00 in a research note on Friday, August 5th. Finally, JMP Securities lifted their price target on Apollo Global Management from $26.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $20.68.
The stock’s 50 day moving average is $16.94 and its 200-day moving average is $16.29. The stock has a market cap of $3.37 billion and a PE ratio of 18.98.
Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.19. During the same period in the previous year, the business earned $0.38 earnings per share. The firm earned $351.73 million during the quarter, compared to analysts’ expectations of $350.06 million. The business’s revenue for the quarter was up 87.8% on a year-over-year basis. Analysts forecast that Apollo Global Management LLC will post $1.70 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Monday, August 22nd will be paid a $0.37 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.25. This represents a $1.48 annualized dividend and a yield of 8.11%. The ex-dividend date is Thursday, August 18th.
In related news, insider Marc J. Rowan sold 565,519 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $18.62, for a total value of $10,529,963.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pauline Richards acquired 1,800 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was purchased at an average cost of $18.41 per share, with a total value of $33,138.00. The disclosure for this purchase can be found here.
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 operates through three segments: Private equity, Credit and Real estate.
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