Apollo Global Management (NYSE:APO) Rating Increased to Hold at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Apollo Global Management (NYSE:APO) to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

APO has been the topic of several other reports. BMO Capital Markets cut their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. HSBC assumed coverage on Apollo Global Management in a research report on Monday. They set a “buy” rating and a $145.00 target price on the stock. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Finally, TD Cowen decreased their target price on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.08.

Apollo Global Management Stock Performance

Shares of APO opened at $118.42 on Monday. The company has a market capitalization of $68.27 billion, a price-to-earnings ratio of 75.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. Apollo Global Management has a 52-week low of $99.56 and a 52-week high of $153.43. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $127.01 and a 200 day moving average price of $124.52.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company earned $1.82 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Research analysts predict that Apollo Global Management will post 8.22 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 19th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is 143.31%.

Insider Buying and Selling

In other news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at approximately $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management in the 1st quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. grew its stake in shares of Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Osbon Capital Management LLC acquired a new position in Apollo Global Management in the 4th quarter valued at $36,000. Finally, Physician Wealth Advisors Inc. increased its stake in shares of Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.