ValuEngine upgraded shares of Apollo Global Management (NYSE:APO) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.
Several other research firms have also recently weighed in on APO. Keefe, Bruyette & Woods reissued a buy rating and issued a $43.00 price objective on shares of Apollo Global Management in a research report on Thursday, February 1st. Citigroup cut Apollo Global Management from a buy rating to a neutral rating and set a $38.00 price objective on the stock. in a research report on Friday, January 19th. Morgan Stanley raised Apollo Global Management from an equal weight rating to an overweight rating and set a $42.00 price objective on the stock in a research report on Wednesday, January 3rd. Zacks Investment Research raised Apollo Global Management from a hold rating to a buy rating and set a $37.00 price objective on the stock in a research report on Tuesday, December 19th. Finally, Credit Suisse Group boosted their price objective on Apollo Global Management from $32.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $35.62.
Apollo Global Management (APO) opened at $34.00 on Friday. The stock has a market capitalization of $6,580.00, a P/E ratio of 11.11, a P/E/G ratio of 1.03 and a beta of 1.03. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58. Apollo Global Management has a 1 year low of $21.39 and a 1 year high of $37.35.
Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, February 1st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.55. The company had revenue of $869.50 million for the quarter, compared to analysts’ expectations of $599.38 million. Apollo Global Management had a return on equity of 66.33% and a net margin of 23.92%. Apollo Global Management’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. research analysts forecast that Apollo Global Management will post 3.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 21st will be given a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.64 annualized dividend and a yield of 7.76%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.39. Apollo Global Management’s payout ratio is currently 50.98%.
In other news, major shareholder Tiger Global Management Llc bought 43,714 shares of the stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $29.18 per share, for a total transaction of $1,275,574.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.11% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of Apollo Global Management in the second quarter valued at $240,000. JPMorgan Chase & Co. raised its stake in shares of Apollo Global Management by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 5,394,866 shares of the financial services provider’s stock valued at $163,950,000 after buying an additional 152,999 shares during the period. Renaissance Technologies LLC raised its stake in shares of Apollo Global Management by 29.1% in the second quarter. Renaissance Technologies LLC now owns 861,934 shares of the financial services provider’s stock valued at $22,798,000 after buying an additional 194,102 shares during the period. Thornburg Investment Management Inc. raised its stake in shares of Apollo Global Management by 1.8% in the third quarter. Thornburg Investment Management Inc. now owns 1,003,908 shares of the financial services provider’s stock valued at $30,218,000 after buying an additional 17,490 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Apollo Global Management by 20.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,279 shares of the financial services provider’s stock valued at $695,000 after buying an additional 4,460 shares during the period. Hedge funds and other institutional investors own 71.76% of the company’s stock.
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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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