Apollo Global Management, LLC (NYSE:APO) Earns “Equal Weight” Rating from Morgan Stanley
Apollo Global Management, LLC (NYSE:APO)‘s stock had its “equal weight” rating restated by equities research analysts at Morgan Stanley in a report released on Monday. They presently have a $26.00 price objective on the financial services provider’s stock, up from their prior price objective of $25.00. Morgan Stanley’s target price would indicate a potential downside of 1.29% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Apollo Global Management from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Jefferies Group LLC raised their price target on shares of Apollo Global Management from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Goldman Sachs Group, Inc. (The) raised their price target on shares of Apollo Global Management from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $25.00 price target on shares of Apollo Global Management in a report on Friday, March 17th. Finally, BidaskClub lowered shares of Apollo Global Management from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.29.
Shares of Apollo Global Management (NYSE APO) opened at 26.27 on Monday. Apollo Global Management has a 12 month low of $15.08 and a 12 month high of $28.42. The firm’s 50-day moving average is $27.18 and its 200-day moving average is $23.97. The company has a market cap of $5.02 billion, a PE ratio of 8.63 and a beta of 1.22.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.19. The business had revenue of $641.55 million for the quarter, compared to analyst estimates of $570.83 million. Apollo Global Management had a net margin of 23.30% and a return on equity of 72.89%. The company’s revenue was up 431.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) EPS. On average, equities research analysts predict that Apollo Global Management will post $2.55 earnings per share for the current year.
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In related news, insider Marc J. Rowan sold 1,061,297 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $26.58, for a total transaction of $28,209,274.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tiger Global Management Llc acquired 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 11th. The shares were acquired at an average cost of $25.48 per share, for a total transaction of $11,466,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 8,029,013 shares of company stock worth $210,773,337 and have sold 1,260,000 shares worth $33,537,989. Insiders own 4.11% of the company’s stock.
A number of large investors have recently bought and sold shares of APO. LGT Capital Partners acquired a new stake in Apollo Global Management during the fourth quarter valued at approximately $5,617,000. DNB Asset Management boosted its position in shares of Apollo Global Management by 20.5% in the fourth quarter. DNB Asset Management now owns 63,600 shares of the financial services provider’s stock valued at $964,812 after buying an additional 10,800 shares during the period. AGF Investments Inc. boosted its position in shares of Apollo Global Management by 3.1% in the fourth quarter. AGF Investments Inc. now owns 383,517 shares of the financial services provider’s stock valued at $5,824,000 after buying an additional 11,391 shares during the period. Coronation Asset Management Pty Ltd. boosted its position in shares of Apollo Global Management by 8.1% in the fourth quarter. Coronation Asset Management Pty Ltd. now owns 2,569,630 shares of the financial services provider’s stock valued at $39,007,000 after buying an additional 192,318 shares during the period. Finally, BB&T Securities purchased a new position in shares of Apollo Global Management during the fourth quarter valued at about $339,000. 74.65% of the stock is currently owned by institutional investors and hedge funds.
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’s segments include private equity, credit and real estate.
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