Wall Street Zen upgraded shares of Apollo Global Management (NYSE:APO – Free Report) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning.
Several other equities analysts have also recently issued reports on APO. Weiss Ratings reissued a “hold (c-)” rating on shares of Apollo Global Management in a research note on Friday, August 7th. HSBC initiated coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a “buy” rating and a $145.00 target price for the company. Morgan Stanley lowered their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Finally, Piper Sandler reduced their price objective on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. One research 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 company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $152.77.
View Our Latest Stock Report on APO
Apollo Global Management Stock Performance
Apollo Global Management (NYSE:APO – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same period in the previous year, the business posted $1.92 earnings per share. On average, equities research analysts expect that Apollo Global Management will post 8.12 earnings per share for the current year.
Apollo Global Management Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.
Insider Activity
In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On Apollo Global Management
Several hedge funds have recently bought and sold shares of APO. Sunbelt Securities Inc. raised its holdings in Apollo Global Management by 16.9% in the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 82 shares in the last quarter. Broadway Wealth Solutions Inc. increased its position in shares of Apollo Global Management by 3.8% in the 4th quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 87 shares during the last quarter. First Horizon Corp raised its stake in shares of Apollo Global Management by 8.1% in the 4th quarter. First Horizon Corp now owns 1,228 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 92 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position 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 purchasing an additional 96 shares during the last quarter. Finally, Glen Eagle Advisors LLC lifted its position in shares of Apollo Global Management by 33.3% during the fourth quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 96 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.
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.
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