Apollo Global Management, LLC (NYSE:APO) Sets New 12-Month High After Insider Buying Activity
Apollo Global Management, LLC (NYSE:APO) shares reached a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as $29.64 and last traded at $29.69, with a volume of 1,045,247 shares changing hands. The stock had previously closed at $29.00.
Specifically, Director Robert K. Kraft acquired 30,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average cost of $28.88 per share, with a total value of $866,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Tiger Global Management Llc acquired 859,600 shares of the stock in a transaction on Monday, May 22nd. The stock was bought 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 three months, insiders acquired 3,230,918 shares of company stock valued at $86,959,243. 4.11% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on the stock. JMP Securities reissued an “outperform” rating and issued a $32.00 price objective on shares of Apollo Global Management in a research report on Friday. UBS AG reissued a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Apollo Global Management in a research report on Friday. Deutsche Bank AG boosted their price objective on shares of Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 3rd. Finally, BidaskClub raised shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.41.
The firm has a 50 day moving average of $27.30 and a 200 day moving average of $25.16. The firm has a market capitalization of $5.70 billion, a PE ratio of 11.71 and a beta of 1.22.
Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $432.87 million during the quarter, compared to analysts’ expectations of $455.29 million. During the same period in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 34.5% compared to the same quarter last year. Equities analysts expect that Apollo Global Management, LLC will post $2.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be paid a $0.52 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, August 18th. This represents a $2.08 annualized dividend and a dividend yield of 6.95%. Apollo Global Management’s dividend payout ratio (DPR) is presently 76.56%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Apollo Global Management during the fourth quarter valued at approximately $297,000. Quadrature Capital Ltd purchased a new position in shares of Apollo Global Management during the fourth quarter worth about $448,000. SOL Capital Management CO increased its position in shares of Apollo Global Management by 4.8% in the first quarter. SOL Capital Management CO now owns 43,600 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 2,000 shares in the last quarter. DnB Asset Management AS increased its position in shares of Apollo Global Management by 73.2% in the first quarter. DnB Asset Management AS now owns 108,800 shares of the financial services provider’s stock worth $2,646,000 after buying an additional 46,000 shares in the last quarter. Finally, Boston Advisors LLC purchased a new position in shares of Apollo Global Management during the first quarter worth about $5,766,000. 75.47% of the stock is owned by institutional investors and hedge funds.
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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’s segments include private equity, credit and real estate.
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