Apollo Global Management LLC (NYSE:APO) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Apollo Global Management LLC (NYSE:APO) have been assigned an average recommendation of “Buy” from the sixteen analysts that are covering the stock. Six research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.34.
Several equities analysts have recently commented on APO shares. Deutsche Bank AG restated a “hold” rating and set a $17.00 price target on shares of Apollo Global Management in a report on Sunday, June 5th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $18.00 price objective (up from $15.00) on shares of Apollo Global Management in a report on Tuesday, May 24th. Oppenheimer Holdings Inc. upgraded shares of Apollo Global Management from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $17.61 to $19.00 in a report on Friday, August 5th. Zacks Investment Research cut shares of Apollo Global Management from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Finally, TheStreet upgraded shares of Apollo Global Management from a “hold” rating to a “buy” rating in a report on Thursday, September 1st.
In related news, insider Marc J. Rowan sold 565,519 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $18.62, for a total value of $10,529,963.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pauline Richards purchased 1,800 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was acquired at an average cost of $18.41 per share, with a total value of $33,138.00. The disclosure for this purchase can be found here.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new position in Apollo Global Management during the first quarter valued at about $452,000. BlackRock Institutional Trust Company N.A. acquired a new position in Apollo Global Management during the first quarter valued at about $135,000. Springhouse Capital Management LP raised its position in Apollo Global Management by 31.1% in the second quarter. Springhouse Capital Management LP now owns 314,577 shares of the company’s stock valued at $4,766,000 after buying an additional 74,577 shares during the period. Commonwealth Equity Services Inc raised its position in Apollo Global Management by 17.4% in the first quarter. Commonwealth Equity Services Inc now owns 108,152 shares of the company’s stock valued at $1,852,000 after buying an additional 15,992 shares during the period. Finally, Pzena Investment Management LLC raised its position in Apollo Global Management by 69.4% in the second quarter. Pzena Investment Management LLC now owns 381,650 shares of the company’s stock valued at $5,782,000 after buying an additional 156,300 shares during the period.
Shares of Apollo Global Management (NYSE:APO) traded down 0.84% on Wednesday, reaching $17.79. The company had a trading volume of 146,830 shares. The stock has a market capitalization of $3.29 billion, a PE ratio of 18.49 and a beta of 1.77. Apollo Global Management has a 52-week low of $12.35 and a 52-week high of $19.18. The company has a 50 day moving average price of $18.39 and a 200 day moving average price of $16.93.
Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.20 by $0.19. The company had revenue of $351.73 million for the quarter, compared to analysts’ expectations of $350.06 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company’s revenue was up 87.8% on a year-over-year basis. On average, equities research analysts anticipate that Apollo Global Management will post ($0.73) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 22nd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 8.25%. The ex-dividend date was Thursday, August 18th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.25.
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 operates through three segments: Private equity, Credit and Real estate.
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