Apollo Global Management LLC (APO) Given Consensus Rating of “Buy” by Brokerages
Apollo Global Management LLC (NYSE:APO) has been assigned an average recommendation of “Buy” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $33.25.
A number of brokerages have commented on APO. Jefferies Group reiterated a “buy” rating and issued a $34.00 price objective on shares of Apollo Global Management in a research report on Tuesday, September 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $30.00 price objective (up from $28.00) on shares of Apollo Global Management in a research report on Thursday, October 5th. Zacks Investment Research lowered Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Credit Suisse Group increased their price objective on Apollo Global Management from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $39.00 price objective (up from $34.00) on shares of Apollo Global Management in a research report on Thursday, November 2nd.
Shares of Apollo Global Management (APO) traded down $0.08 on Thursday, reaching $32.09. The company’s stock had a trading volume of 642,154 shares, compared to its average volume of 1,233,813. The company has a market cap of $6,313.27, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 1.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.74 and a quick ratio of 1.74. Apollo Global Management has a 52-week low of $18.90 and a 52-week high of $33.37.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Tuesday, November 21st were given a $0.39 dividend. The ex-dividend date was Monday, November 20th. This represents a $1.56 annualized dividend and a dividend yield of 4.86%. Apollo Global Management’s dividend payout ratio is currently 50.98%.
In related news, major shareholder Tiger Global Management Llc purchased 43,714 shares of Apollo Global Management stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average cost of $29.18 per share, for a total transaction of $1,275,574.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.11% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new stake in Apollo Global Management during the 2nd quarter worth $211,000. Wedbush Securities Inc. raised its stake in Apollo Global Management by 5.7% during the 2nd quarter. Wedbush Securities Inc. now owns 9,280 shares of the financial services provider’s stock worth $245,000 after buying an additional 500 shares during the period. Alps Advisors Inc. raised its stake in Apollo Global Management by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 20,534 shares of the financial services provider’s stock worth $543,000 after buying an additional 53 shares during the period. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management during the 2nd quarter worth $240,000. Finally, Legal & General Group Plc raised its stake in Apollo Global Management by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 508,696 shares of the financial services provider’s stock worth $13,478,000 after buying an additional 68,953 shares during the period. Institutional investors and hedge funds own 72.57% of the company’s stock.
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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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