Apollo Global Management, LLC (NYSE:APO) Releases Earnings Results, Misses Estimates By $0.04 EPS

Apollo Global Management, LLC (NYSE:APO) posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04, Bloomberg Earnings reports. The company had revenue of $432.87 million for the quarter, compared to the consensus estimate of $455.29 million. Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The firm’s quarterly revenue was down 34.5% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS.

Shares of Apollo Global Management (NYSE APO) traded down 0.37% during mid-day trading on Friday, hitting $29.39. The company had a trading volume of 852,885 shares. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 11.51 and a beta of 1.22. The firm has a 50-day moving average price of $27.68 and a 200 day moving average price of $25.55. Apollo Global Management has a 52-week low of $17.38 and a 52-week high of $30.18.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be issued a $0.52 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, August 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.08%. Apollo Global Management’s payout ratio is presently 76.56%.

A number of research firms have commented on APO. Morgan Stanley raised their price target on Apollo Global Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday. JMP Securities reiterated an “outperform” rating and set a $32.00 target price on shares of Apollo Global Management in a research report on Friday, August 4th. UBS AG reiterated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Deutsche Bank AG lifted their target price on Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC restated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $28.55.

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In other Apollo Global Management news, insider John J. Suydam sold 46,617 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,398,976.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Tiger Global Management Llc acquired 859,600 shares of the stock in a transaction dated Monday, May 22nd. The stock was acquired at an average cost of $26.22 per share, for a total transaction of $22,538,712.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,750,318 shares of company stock worth $74,234,505. 4.11% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in Apollo Global Management by 2.8% in the first quarter. FMR LLC now owns 8,216,804 shares of the financial services provider’s stock valued at $199,833,000 after buying an additional 223,452 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Apollo Global Management by 48.3% in the second quarter. JPMorgan Chase & Co. now owns 5,241,867 shares of the financial services provider’s stock valued at $138,648,000 after buying an additional 1,707,154 shares in the last quarter. Bank of America Corp DE boosted its stake in Apollo Global Management by 66.0% in the first quarter. Bank of America Corp DE now owns 4,612,397 shares of the financial services provider’s stock valued at $112,173,000 after buying an additional 1,833,690 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Apollo Global Management by 29.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,070,745 shares of the financial services provider’s stock valued at $74,681,000 after buying an additional 707,416 shares in the last quarter. Finally, Beck Mack & Oliver LLC boosted its stake in Apollo Global Management by 2.0% in the second quarter. Beck Mack & Oliver LLC now owns 3,056,035 shares of the financial services provider’s stock valued at $80,832,000 after buying an additional 60,473 shares in the last quarter. Institutional investors own 75.47% of the company’s stock.

Apollo Global Management Company Profile

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.

Earnings History for Apollo Global Management (NYSE:APO)

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