TheStreet upgraded shares of Apollo Global Management (NYSE:APO) from a c rating to an a- rating in a research note published on Friday, May 3rd, TheStreetRatingsTable reports.
APO has been the topic of a number of other research reports. Zacks Investment Research cut Apollo Global Management from a buy rating to a hold rating in a report on Wednesday, April 24th. ValuEngine upgraded Apollo Global Management from a hold rating to a buy rating in a report on Friday, April 19th. Finally, Argus lowered their target price on Apollo Global Management from $37.00 to $35.00 and set a buy rating on the stock in a report on Tuesday, February 5th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Apollo Global Management has an average rating of Buy and a consensus price target of $38.00.
APO traded down $0.42 on Friday, hitting $30.65. 600,600 shares of the company traded hands, compared to its average volume of 890,821. The company has a market cap of $6.38 billion, a PE ratio of -145.95, a P/E/G ratio of 0.76 and a beta of 1.47. Apollo Global Management has a 12-month low of $22.63 and a 12-month high of $36.49. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.07.
Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.11). The business had revenue of $677.78 million for the quarter, compared to analysts’ expectations of $695.30 million. Apollo Global Management had a return on equity of 30.53% and a net margin of 19.45%. The business’s quarterly revenue was up 306.1% on a year-over-year basis. During the same period last year, the company posted ($0.30) earnings per share. As a group, sell-side analysts expect that Apollo Global Management will post 2.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend is Monday, May 20th. Apollo Global Management’s dividend payout ratio (DPR) is -876.19%.
In other news, Director A B. Krongard bought 1,790 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average cost of $32.41 per share, with a total value of $58,013.90. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.13, for a total value of $145,650.00. The disclosure for this sale can be found here. 4.11% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Apollo Global Management in the third quarter valued at about $1,551,000. Marshall Wace LLP purchased a new stake in shares of Apollo Global Management during the third quarter worth about $3,889,000. Marshall Wace North America L.P. purchased a new stake in shares of Apollo Global Management during the third quarter worth about $1,685,000. Cerebellum GP LLC increased its position in shares of Apollo Global Management by 103.9% during the fourth quarter. Cerebellum GP LLC now owns 10,510 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 5,356 shares during the last quarter. Finally, LGT Capital Partners LTD. increased its position in shares of Apollo Global Management by 42.4% during the fourth quarter. LGT Capital Partners LTD. now owns 655,000 shares of the financial services provider’s stock worth $16,074,000 after acquiring an additional 195,000 shares during the last quarter. 73.43% of the stock is currently owned by institutional investors and hedge funds.
About Apollo Global Management
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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