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Tiger Global Management Llc Purchases 63,407 Shares of Apollo Global Management, LLC (NYSE:APO) Stock

Apollo Global Management, LLC (NYSE:APO) major shareholder Tiger Global Management Llc purchased 63,407 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $27.83 per share, with a total value of $1,764,616.81. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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Tiger Global Management Llc also recently made the following trade(s):

Apollo Global Management, LLC (NYSE:APO) opened at 28.83 on Friday. The stock’s 50 day moving average price is $27.30 and its 200-day moving average price is $25.16. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 11.28 and a beta of 1.22. Apollo Global Management, LLC has a one year low of $17.23 and a one year high of $29.20.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. Apollo Global Management had a return on equity of 61.50% and a net margin of 21.79%. The business had revenue of $432.87 million during the quarter, compared to analysts’ expectations of $455.29 million. During the same quarter last year, the business posted $0.98 EPS. The company’s quarterly revenue was down 34.5% on a year-over-year basis. On average, equities research analysts expect that Apollo Global Management, LLC will post $2.45 EPS for the current fiscal year.

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

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Large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of 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 increased its stake in shares of 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. increased its stake 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 last quarter. Tealwood Asset Management Inc. purchased a new stake in Apollo Global Management during the first quarter worth $3,233,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in Apollo Global Management during the first quarter worth $242,000. Institutional investors own 75.77% of the company’s stock.

A number of equities research analysts have issued reports on APO shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $33.00 target price on shares of Apollo Global Management in a research report on Friday, July 14th. Zacks Investment Research raised Apollo Global Management from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, July 3rd. Jefferies Group LLC reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Friday, June 30th. BidaskClub cut Apollo Global Management from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) upped their target price on Apollo Global Management from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, June 7th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $28.27.

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.