Apollo Global Management, LLC (NYSE:APO) – Stock analysts at Jefferies Group dropped their Q3 2017 earnings per share estimates for shares of Apollo Global Management in a research note issued on Thursday. Jefferies Group analyst G. O’hara now forecasts that the financial services provider will post earnings of $0.58 per share for the quarter, down from their previous estimate of $0.65. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Apollo Global Management’s Q4 2017 earnings at $0.57 EPS and FY2018 earnings at $3.03 EPS.

APO has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Apollo Global Management from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $33.00 price target on shares of Apollo Global Management in a report on Friday, July 14th. BidaskClub downgraded shares of Apollo Global Management from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. JMP Securities reiterated an “outperform” rating and set a $32.00 price target on shares of Apollo Global Management in a report on Friday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $26.00 price target (up from $25.00) on shares of Apollo Global Management in a report on Monday, July 10th. Four investment 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 company. The company currently has a consensus rating of “Buy” and a consensus price target of $28.41.

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Shares of Apollo Global Management (NYSE APO) opened at 29.92 on Monday. Apollo Global Management has a 52-week low of $17.23 and a 52-week high of $30.00. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 11.71 and a beta of 1.22. The firm’s 50-day moving average is $27.30 and its 200 day moving average is $25.16.

Apollo Global Management (NYSE:APO) last released its earnings results 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 firm had revenue of $432.87 million during the quarter, compared to the consensus estimate of $455.29 million. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was down 34.5% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Apollo Global Management by 2.8% in the first quarter. FMR LLC now owns 8,216,804 shares of the financial services provider’s stock worth $199,833,000 after buying an additional 223,452 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Apollo Global Management by 66.0% in the first quarter. Bank of America Corp DE now owns 4,612,397 shares of the financial services provider’s stock worth $112,173,000 after buying an additional 1,833,690 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Apollo Global Management by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 3,534,713 shares of the financial services provider’s stock worth $85,964,000 after buying an additional 296,477 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Apollo Global Management by 29.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,070,745 shares of the financial services provider’s stock worth $74,681,000 after buying an additional 707,416 shares in the last quarter. Finally, Beck Mack & Oliver LLC boosted its stake in shares of Apollo Global Management by 2.0% in the second quarter. Beck Mack & Oliver LLC now owns 3,056,035 shares of the financial services provider’s stock worth $80,832,000 after buying an additional 60,473 shares in the last quarter. Hedge funds and other institutional investors own 75.47% of the company’s stock.

In other news, major shareholder Tiger Global Management Llc acquired 202,100 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average cost of $26.98 per share, for a total transaction of $5,452,658.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert K. Kraft acquired 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average price of $28.88 per share, with a total value of $866,400.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,230,918 shares of company stock worth $86,959,243. Insiders own 4.11% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 6.95%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 76.56%.

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.

Earnings History and Estimates for Apollo Global Management (NYSE:APO)

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