Apollo Global Management LLC (APO) Receives Consensus Rating of “Buy” from Brokerages
Apollo Global Management LLC (NYSE:APO) has received an average recommendation of “Buy” from the fourteen brokerages that are presently covering the stock. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $24.16.
APO has been the topic of several research analyst reports. JMP Securities boosted their price objective on Apollo Global Management to $30.00 in a research report on Monday, February 6th. TheStreet raised Apollo Global Management from a “c” rating to a “b-” rating in a research report on Friday, February 3rd. Goldman Sachs Group Inc upped their price target on Apollo Global Management to $25.00 and gave the company a “buy” rating in a research report on Monday, February 6th. Bank of America Corp raised Apollo Global Management from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, February 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $25.00 price target on shares of Apollo Global Management in a research report on Friday, March 17th.
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In related news, CFO Martin Kelly sold 10,000 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $26.77, for a total transaction of $267,700.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Tiger Global Management Llc acquired 1,486,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The shares were bought at an average price of $25.78 per share, for a total transaction of $38,329,704.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 10,062,813 shares of company stock worth $261,503,571 and have sold 1,260,000 shares worth $33,537,989. Insiders own 4.11% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in APO. Endeavour Capital Advisors Inc. bought a new stake in Apollo Global Management during the fourth quarter worth about $406,000. Renaissance Technologies LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth $297,000. Marshall Wace LLP acquired a new position in shares of Apollo Global Management during the fourth quarter worth $3,835,000. Caldwell & Orkin Inc. acquired a new position in shares of Apollo Global Management during the fourth quarter worth $1,967,000. Finally, FMR LLC raised its position in shares of Apollo Global Management by 4.5% in the fourth quarter. FMR LLC now owns 7,993,352 shares of the financial services provider’s stock worth $154,751,000 after buying an additional 344,646 shares in the last quarter. Institutional investors own 63.79% of the company’s stock.
Apollo Global Management (NYSE:APO) traded down 0.33% on Friday, reaching $27.56. The company’s stock had a trading volume of 668,231 shares. Apollo Global Management has a 12 month low of $14.25 and a 12 month high of $27.78. The firm has a 50 day moving average of $26.40 and a 200 day moving average of $22.62. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 9.06 and a beta of 1.19.
Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.19. Apollo Global Management had a return on equity of 70.68% and a net margin of 20.44%. The business had revenue of $641.55 million for the quarter, compared to analysts’ expectations of $570.83 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. The business’s revenue was up 431.0% on a year-over-year basis. Analysts anticipate that Apollo Global Management will post $2.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Friday, May 19th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 7.11%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, May 17th. Apollo Global Management’s payout ratio is presently 66.99%.
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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