Apollo Global Management LLC (NYSE:APO) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,429,400 shares, a decrease of 61.3% from the January 12th total of 3,691,401 shares. Based on an average daily volume of 954,016 shares, the short-interest ratio is currently 1.5 days. Currently, 0.8% of the shares of the stock are sold short.
In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.68, for a total transaction of $163,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pauline Richards purchased 1,280 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, February 7th. The stock was purchased at an average price of $33.66 per share, with a total value of $43,084.80. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 4,520,000 shares of company stock valued at $153,677,150. Company insiders own 4.11% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in APO. Bank of New York Mellon Corp acquired a new position in Apollo Global Management in the 2nd quarter valued at approximately $240,000. Ameriprise Financial Inc. increased its stake in Apollo Global Management by 55.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,953 shares of the financial services provider’s stock valued at $396,000 after buying an additional 5,350 shares during the period. Stifel Financial Corp increased its stake in Apollo Global Management by 89.8% in the 2nd quarter. Stifel Financial Corp now owns 21,918 shares of the financial services provider’s stock valued at $579,000 after buying an additional 10,368 shares during the period. Janus Henderson Group PLC acquired a new position in Apollo Global Management in the 2nd quarter valued at approximately $15,887,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Apollo Global Management in the 2nd quarter valued at approximately $1,810,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.55. The firm had revenue of $869.50 million for the quarter, compared to analyst estimates of $599.38 million. Apollo Global Management had a net margin of 23.92% and a return on equity of 66.33%. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. equities research analysts expect that Apollo Global Management will post 3.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 21st will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 7.70%. The ex-dividend date of this dividend is Tuesday, February 20th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.39. Apollo Global Management’s dividend payout ratio is currently 50.81%.
Several equities research analysts recently commented on APO shares. Credit Suisse Group upped their price target on shares of Apollo Global Management from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Zacks Investment Research downgraded shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Citigroup downgraded shares of Apollo Global Management from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a research report on Friday, January 19th. ValuEngine upgraded shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Morgan Stanley upgraded shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and set a $42.00 price target for the company in a research report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Apollo Global Management has an average rating of “Buy” and an average target price of $36.33.
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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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