Apollo Global Management (NYSE:APO) Research Coverage Started at HSBC

HSBC assumed coverage on shares of Apollo Global Management (NYSE:APO) in a research note published on Monday, MarketBeat reports. The brokerage issued a buy rating and a $145.00 price objective on the financial services provider’s stock.

A number of other brokerages have also weighed in on APO. Morgan Stanley cut their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. TD Cowen lowered their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. BMO Capital Markets dropped their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Evercore reaffirmed an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Finally, Weiss Ratings lowered shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $149.08.

Apollo Global Management Stock Performance

Shares of APO opened at $119.16 on Monday. Apollo Global Management has a 1 year low of $99.56 and a 1 year high of $153.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The stock’s fifty day moving average price is $126.76 and its two-hundred day moving average price is $124.34. The firm has a market cap of $68.70 billion, a PE ratio of 75.90, a PEG ratio of 1.03 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Apollo Global Management will post 8.22 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 143.31%.

Insiders Place Their Bets

In other news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at about $29,000. Osbon Capital Management LLC bought a new position in shares of Apollo Global Management during the 4th quarter valued at about $36,000. Steigerwald Gordon & Koch Inc. increased its position in shares of Apollo Global Management by 484.1% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management during the 1st quarter valued at about $29,000. Finally, Physician Wealth Advisors Inc. raised its holdings in shares of Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after buying an additional 96 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.