Apollo Global Management, LLC (NYSE:APO) Given Consensus Recommendation of “Buy” by Analysts
Apollo Global Management, LLC (NYSE:APO) has earned an average rating of “Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $28.23.
APO has been the subject of a number of analyst reports. Jefferies Group LLC raised their price objective on Apollo Global Management from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Zacks Investment Research lowered Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Goldman Sachs Group, Inc. (The) raised their price objective on Apollo Global Management from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, June 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $33.00 price objective on shares of Apollo Global Management in a research report on Friday, July 14th. Finally, BidaskClub lowered Apollo Global Management from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th.
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Shares of Apollo Global Management (APO) traded down 0.37% on Friday, hitting $29.39. The company had a trading volume of 852,885 shares. The firm’s 50 day moving average price is $27.63 and its 200-day moving average price is $25.49. Apollo Global Management has a 52 week low of $17.38 and a 52 week high of $30.18. The stock has a market capitalization of $5.67 billion, a PE ratio of 11.51 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 earnings per share 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 the consensus estimate of $455.29 million. During the same period last year, the business earned $0.98 EPS. The firm’s quarterly revenue was down 34.5% on a year-over-year basis. Analysts forecast that Apollo Global Management will post $2.46 earnings per share for the current fiscal year.
The company also recently declared 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 an increase from Apollo Global Management’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend is Friday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is 76.56%.
In other news, major shareholder Tiger Global Management Llc purchased 859,600 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were purchased at an average cost of $26.22 per share, for a total transaction of $22,538,712.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Kraft purchased 30,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average price of $29.90 per share, for a total transaction of $897,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,750,318 shares of company stock worth $74,234,505. Company insiders own 4.11% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in APO. Advisory Services Network LLC purchased a new position in Apollo Global Management during the first quarter worth about $197,000. Markel Corp increased its position in Apollo Global Management by 8.5% in the first quarter. Markel Corp now owns 420,000 shares of the financial services provider’s stock worth $10,214,000 after buying an additional 33,000 shares during the period. Wells Fargo & Company MN increased 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 worth $8,217,000 after buying an additional 77,348 shares during the period. Beck Mack & Oliver LLC increased 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 worth $72,852,000 after buying an additional 46,880 shares during the period. Finally, Russell Investments Group Ltd. increased 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 worth $5,474,000 after buying an additional 4,901 shares during the period. Hedge funds and other institutional investors own 75.47% 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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