Apollo Global Management, LLC (NYSE:APO) – Research analysts at Oppenheimer Holdings lowered their FY2017 earnings estimates for Apollo Global Management in a report released on Monday. Oppenheimer Holdings analyst C. Kotowski now forecasts that the financial services provider will earn $2.48 per share for the year, down from their prior estimate of $2.50. Oppenheimer Holdings has a “Outperform” rating and a $33.00 price target on the stock. Oppenheimer Holdings also issued estimates for Apollo Global Management’s Q4 2017 earnings at $0.64 EPS and FY2018 earnings at $3.10 EPS.

APO has been the topic of a number of other research reports. Deutsche Bank AG increased their price objective on shares of Apollo Global Management from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Jefferies Group LLC restated a “buy” rating and set a $34.00 price target on shares of Apollo Global Management in a research report on Tuesday, September 26th. Morgan Stanley restated an “equal weight” rating and set a $26.00 price target (up previously from $25.00) on shares of Apollo Global Management in a research report on Monday, July 10th. Finally, UBS AG restated a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Apollo Global Management has a consensus rating of “Buy” and an average price target of $30.50.

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Apollo Global Management (NYSE:APO) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The firm had revenue of $432.87 million for the quarter, compared to analysts’ expectations of $455.29 million. During the same quarter last year, the firm posted $0.98 EPS. The firm’s quarterly revenue was down 34.5% compared to the same quarter last year.

In related news, major shareholder Tiger Global Management Llc bought 249,968 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were acquired at an average price of $27.68 per share, for a total transaction of $6,919,114.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A B. Krongard bought 1,000 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was bought at an average price of $29.28 per share, for a total transaction of $29,280.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,299,002 shares of company stock worth $36,449,757. Company insiders own 4.11% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in APO. Tiger Global Management LLC grew its position in shares of Apollo Global Management by 40.9% in the second quarter. Tiger Global Management LLC now owns 32,885,212 shares of the financial services provider’s stock valued at $869,814,000 after purchasing an additional 9,550,313 shares during the period. GMT Capital Corp grew its position in shares of Apollo Global Management by 224.2% in the second quarter. GMT Capital Corp now owns 4,268,063 shares of the financial services provider’s stock valued at $112,421,000 after purchasing an additional 2,951,622 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Apollo Global Management in the first quarter worth about $52,393,000. Bank of Montreal Can purchased a new position in shares of Apollo Global Management in the second quarter worth about $54,333,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Apollo Global Management by 48.3% in the second quarter. JPMorgan Chase & Co. now owns 5,241,867 shares of the financial services provider’s stock worth $138,648,000 after buying an additional 1,707,154 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.

Earnings History and Estimates for Apollo Global Management (NYSE:APO)

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