Apollo Global Management, LLC (APO) Given “Buy” Rating at UBS AG
UBS AG reiterated their buy rating on shares of Apollo Global Management, LLC (NYSE:APO) in a research report sent to investors on Friday morning. UBS AG currently has a $32.00 price objective on the financial services provider’s stock, up from their previous price objective of $30.00.
Several other analysts also recently commented on APO. Zacks Investment Research downgraded shares of Apollo Global Management from a buy rating to a hold rating in a research report on Friday, April 7th. Keefe, Bruyette & Woods reissued a buy rating and issued a $33.00 target price on shares of Apollo Global Management in a research report on Friday, July 14th. BidaskClub downgraded shares of Apollo Global Management from a strong-buy rating to a buy rating in a research report on Tuesday, June 27th. Jefferies Group LLC reissued a buy rating on shares of Apollo Global Management in a research report on Friday, June 30th. Finally, Morgan Stanley reissued an equal weight rating and issued a $26.00 target price (up from $25.00) on shares of Apollo Global Management in a research report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Apollo Global Management has an average rating of Buy and an average target price of $28.41.
Shares of Apollo Global Management (NYSE:APO) traded up 0.59% during trading on Friday, hitting $29.00. 1,872,558 shares of the stock were exchanged. The stock’s 50 day moving average is $27.30 and its 200-day moving average is $25.16. Apollo Global Management has a 12-month low of $17.23 and a 12-month high of $29.20. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 11.35 and a beta of 1.22.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. Apollo Global Management had a net margin of 21.79% and a return on equity of 61.50%. The company had revenue of $432.87 million for the quarter, compared to analysts’ expectations of $455.29 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was down 34.5% on a year-over-year basis. Equities research analysts anticipate that Apollo Global Management will post $2.47 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be issued a dividend of $0.52 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a dividend yield of 7.17%. The ex-dividend date of this dividend is Friday, August 18th. Apollo Global Management’s dividend payout ratio is currently 76.56%.
In other news, Director Robert K. Kraft acquired 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average cost of $28.88 per share, with a total value of $866,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Tiger Global Management Llc acquired 859,600 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were purchased at an average cost of $26.22 per share, with a total value of $22,538,712.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 3,838,018 shares of company stock valued at $103,211,513. 4.11% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in Apollo Global Management by 29.7% in the first quarter. Wells Fargo & Company MN now owns 337,841 shares of the financial services provider’s stock valued at $8,217,000 after buying an additional 77,348 shares during the last quarter. Beck Mack & Oliver LLC boosted its position in Apollo Global Management by 1.6% in the first quarter. Beck Mack & Oliver LLC now owns 2,995,562 shares of the financial services provider’s stock valued at $72,852,000 after buying an additional 46,880 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Apollo Global Management by 2.2% in the first quarter. Russell Investments Group Ltd. now owns 225,314 shares of the financial services provider’s stock valued at $5,474,000 after buying an additional 4,901 shares during the last quarter. Tealwood Asset Management Inc. bought a new position in Apollo Global Management during the first quarter valued at approximately $3,233,000. Finally, Clear Harbor Asset Management LLC bought a new position in Apollo Global Management during the first quarter valued at approximately $242,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.
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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