Zacks Investment Research has improved the shares of Apollo Global Management (NYSE:APO – Get a Rating) from a hold rating to a strong buy rating in a report released Wednesday morning, reports Zacks.com. They currently have a price target of $58.00 on shares of the financial services provider.
According to Zacks, “Apollo Global Management LLC provides alternative asset management services. It operates primarily in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo Global Management LLC is based in New York, USA.”
APO has been the subject of several other reports. Citigroup cut its target price on Apollo Global Management from $105.00 to $87.50 and set a buy rating on the stock in a Tuesday, April 12 report. StockNews.com upgraded Apollo Global Management from a hold rating to a sell rating in a report released on Monday. Morgan Stanley cut its price target on Apollo Global Management from $88.00 to $81.00 and set an overweight rating for the stock in a Wednesday, April 20 report. Wells Fargo & Company cut its price target on Apollo Global Management from $85.00 to $71.00 and set an overweight rating for the stock in a Tuesday, April 19 report. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Apollo Global Management from $95.00 to $98.00 in a Friday, May 6 research note. Two analysts rated the stock with a sell rating, one issued a hold rating, eight issued a buy rating and one gave the company’s stock a strong buy rating. Based on data from MarketBeat.com, the company currently has a Buy consensus rating and an average price target of $80.72.
Shares of Apollo Global Management opened at $51.01 on Wednesday. The stock’s 50-day simple moving average is $58.25 and its 200-day simple moving average is $66.41. Apollo Global Management has a 52-week low of $49.18 and a 52-week high of $81.07. The company has a market capitalization of $29.13 billion, a price/earnings ratio of 16.35, a PEG ratio of 0.56 and a beta of 1.64. The company has a quick ratio of 1.24, a current ratio of 1.24 and a leverage ratio of 0.33.
Apollo Global Management (NYSE:APO – Get Rating) last reported quarterly earnings data on Thursday, May 5. The financial services provider reported EPS of $1.52 for the quarter, beating the consensus estimate of $1.04 by $0.48. Apollo Global Management had a return on equity of 25.24% and a net margin of 6.39%. During the same period of the previous year, the company achieved EPS of $0.66. On average, stock analysts expect Apollo Global Management to post earnings per share of 5.47 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31. Shareholders of record on Wednesday, May 18 will receive a dividend of $0.40 per share. The ex-dividend date is Tuesday, May 17. This represents an annualized dividend of $1.60 and a yield of 3.14%. Apollo Global Management’s payout ratio is currently 51.28%.
In other Apollo Global Management news, Director A B. Krongard acquired 1,375 shares of the company in a transaction on Wednesday, February 16. The shares were purchased at an average price of $67.23 per share, with a total value of $92,441.25. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Company insiders own 3.90% of the company’s shares.
Several large investors have recently increased or reduced their stake in APO. Select Equity Group LP increased its position in shares of Apollo Global Management by 486.7% during the fourth quarter. Select Equity Group LP now owns 3,722,414 shares of the financial services provider worth $269,614,000 after purchasing an additional 3,087,922 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Apollo Global Management by 355.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,366,192 shares of the financial services provider worth $208,671,000 after buying 2,626,665 additional shares in the last quarter. Senator Investment Group LP purchased a new stake in shares of Apollo Global Management during the third quarter at a value of $160,134,000. Brave Warrior Advisors LLC purchased a new stake in shares of Apollo Global Management during the third quarter at a value of $154,408,000. Finally, BlackRock Inc. increased its position in Apollo Global Management shares by 16.4% during the third quarter. BlackRock Inc. now owns 16,578,428 shares of the financial services provider worth $1,021,064,000 after purchasing an additional 2,338,140 shares in the last quarter. Institutional investors and hedge funds hold 61.48% of the company’s shares.
About Apollo Global Management (Get an assessment)
Apollo Global Management, Inc is a private equity firm specializing in investments in the credit, private equity and real estate markets. The Company’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and leveraged investments in real estate, business partner buyouts, distressed assets, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
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