Apollo Global Management (APO) Downgraded to “Neutral” at Citigroup

Apollo Global Management (NYSE:APO) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, The Fly reports.

Several other brokerages have also commented on APO. Morgan Stanley upgraded Apollo Global Management from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Wednesday, January 3rd. ValuEngine upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded Apollo Global Management from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Tuesday, December 19th. Credit Suisse Group raised their target price on Apollo Global Management from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $39.00 target price (up previously from $34.00) on shares of Apollo Global Management in a research note on Thursday, November 2nd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.46.

Shares of Apollo Global Management (NYSE APO) traded down $0.35 on Friday, hitting $35.07. The stock had a trading volume of 496,700 shares, compared to its average volume of 696,733. Apollo Global Management has a 12-month low of $20.38 and a 12-month high of $36.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market cap of $6,790.00, a price-to-earnings ratio of 11.54, a PEG ratio of 1.06 and a beta of 1.22.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.56 by $0.51. Apollo Global Management had a return on equity of 64.11% and a net margin of 24.82%. The firm had revenue of $645.20 million during the quarter, compared to analyst estimates of $467.72 million. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue for the quarter was up 31.1% compared to the same quarter last year. research analysts forecast that Apollo Global Management will post 2.97 earnings per share for the current fiscal year.

In other news, major shareholder Tiger Global Management Llc bought 43,714 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average price 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 is available through this hyperlink. Company insiders own 4.11% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in APO. Stelac Advisory Services LLC acquired a new stake in Apollo Global Management during the 3rd quarter worth about $117,000. First Midwest Bank Trust Division acquired a new stake in Apollo Global Management during the 3rd quarter worth about $232,000. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management during the 2nd quarter worth about $240,000. Wealthsource Partners LLC acquired a new stake in Apollo Global Management during the 3rd quarter worth about $251,000. Finally, Meridian Wealth Management LLC acquired a new stake in Apollo Global Management during the 3rd quarter worth about $277,000. 72.44% of the stock is currently owned by institutional investors.

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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.

The Fly

Analyst Recommendations for Apollo Global Management (NYSE:APO)