Apollo Global Management, LLC (APO) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Apollo Global Management, LLC (NYSE:APO) from a buy rating to a strong-buy rating in a research report released on Monday.

A number of other analysts have also recently commented on APO. Jefferies Group LLC boosted their price objective on Apollo Global Management from $29.00 to $31.00 and gave the company a buy rating in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded Apollo Global Management from a hold rating to a buy rating and set a $30.00 price objective for the company in a research report on Monday, July 3rd. Oppenheimer Holdings, Inc. boosted their price objective on Apollo Global Management from $31.00 to $33.00 and gave the company an outperform rating in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) boosted their price objective on Apollo Global Management from $30.00 to $32.00 and gave the company a buy rating in a research report on Wednesday, June 7th. Finally, Morgan Stanley restated an equal weight rating and issued a $26.00 price objective (up from $25.00) on shares of Apollo Global Management in a research report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $28.27.

Apollo Global Management (APO) opened at 28.83 on Monday. The company’s 50 day moving average price is $27.30 and its 200-day moving average price is $25.16. The company has a market capitalization of $5.49 billion, a P/E ratio of 11.28 and a beta of 1.22. Apollo Global Management has a 52 week low of $17.23 and a 52 week high of $29.20.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.04. The company had revenue of $432.87 million for the quarter, compared to analysts’ expectations of $455.29 million. Apollo Global Management had a net margin of 21.79% and a return on equity of 61.50%. The firm’s revenue was down 34.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share. Equities research analysts expect that Apollo Global Management will post $2.47 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $2.08 dividend on an annualized basis and a yield of 7.21%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.49. Apollo Global Management’s payout ratio is 76.56%.

In related news, major shareholder Tiger Global Management Llc acquired 175,600 shares of the stock in a transaction on Monday, May 8th. The shares were bought at an average price of $26.55 per share, with a total value of $4,662,180.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 3,808,018 shares of company stock worth $102,345,113 in the last three months. 4.11% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Apollo Global Management by 29.7% in the first quarter. Wells Fargo & Company MN now owns 337,841 shares of the financial services provider’s stock worth $8,217,000 after buying an additional 77,348 shares during the period. Beck Mack & Oliver LLC raised its position in Apollo Global Management by 1.6% in the first quarter. Beck Mack & Oliver LLC now owns 2,995,562 shares of the financial services provider’s stock worth $72,852,000 after buying an additional 46,880 shares during the period. Russell Investments Group Ltd. raised its position in Apollo Global Management by 2.2% in the first quarter. Russell Investments Group Ltd. now owns 225,314 shares of the financial services provider’s stock worth $5,474,000 after buying an additional 4,901 shares during the period. Tealwood Asset Management Inc. bought a new position in Apollo Global Management during the first quarter worth $3,233,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Apollo Global Management during the first quarter worth approximately $242,000. 75.77% of the stock is currently owned by institutional investors.

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.