Apollo Global Management LLC (APO) Raised to Buy at Zacks Investment Research
Apollo Global Management LLC (NYSE:APO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $22.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 14.23% from the company’s current price.
According to Zacks, “Apollo Management, L.P. operates as an alternative asset manager globally. The Company operates in three business segments: private equity, capital markets and real estate. It raises, invests and manages funds on behalf of pension and endowment funds, as well as other institutional and individual investors. Apollo Management, L.P. is headquartered in New York, New York. “
APO has been the subject of several other reports. Credit Suisse Group AG reiterated a “hold” rating and set a $22.00 target price on shares of Apollo Global Management in a research report on Monday, November 7th. TheStreet upgraded Apollo Global Management from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. JMP Securities lifted their target price on Apollo Global Management from $26.00 to $27.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 4th. Vetr upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating and set a $20.72 target price for the company in a research report on Thursday, October 13th. Finally, Deutsche Bank AG lifted their price objective on Apollo Global Management from $15.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $20.58.
Shares of Apollo Global Management (NYSE:APO) traded down 0.16% during mid-day trading on Wednesday, reaching $19.26. 913,038 shares of the company traded hands. Apollo Global Management has a 52 week low of $12.35 and a 52 week high of $20.01. The firm has a 50 day moving average of $18.50 and a 200-day moving average of $17.43. The stock has a market capitalization of $3.57 billion, a PE ratio of 15.31 and a beta of 1.77.
Apollo Global Management (NYSE:APO) last released its earnings results on Friday, October 28th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.12. The business had revenue of $660.45 million for the quarter, compared to the consensus estimate of $429 million. During the same quarter last year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was up 160.6% compared to the same quarter last year. On average, equities research analysts expect that Apollo Global Management will post $1.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 21st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, November 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.27%.
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In other news, insider John J. Suydam sold 50,642 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $20.00, for a total transaction of $1,012,840.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of Apollo Global Management by 28.3% in the first quarter. Legal & General Group Plc now owns 358,848 shares of the company’s stock worth $6,145,000 after buying an additional 79,214 shares in the last quarter. LPL Financial LLC raised its stake in shares of Apollo Global Management by 10.7% in the first quarter. LPL Financial LLC now owns 54,157 shares of the company’s stock worth $912,000 after buying an additional 5,228 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Apollo Global Management by 3.2% in the second quarter. BNP Paribas Arbitrage SA now owns 291,413 shares of the company’s stock worth $4,415,000 after buying an additional 9,140 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in shares of Apollo Global Management during the second quarter worth approximately $128,000. Finally, Bank of Montreal Can purchased a new stake in shares of Apollo Global Management during the second quarter worth approximately $11,299,000.
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 operates through three segments: Private equity, Credit and Real estate.
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