Apollo Global Management, LLC (APO) Receives $26.31 Consensus PT from Brokerages

Apollo Global Management, LLC (NYSE:APO) has earned an average recommendation of “Buy” from the seventeen research firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $28.23.

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Apollo Global Management from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday. JMP Securities reissued an “outperform” rating and set a $32.00 price target on shares of Apollo Global Management in a research report on Friday, August 4th. UBS AG reaffirmed a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Deutsche Bank AG lifted their price objective on shares of Apollo Global Management from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 3rd.

In other news, major shareholder Tiger Global Management Llc purchased 859,600 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $26.22 per share, for a total transaction of $22,538,712.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Kraft purchased 30,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average price of $28.88 per share, with a total value of $866,400.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,750,318 shares of company stock valued at $74,234,505. Company insiders own 4.11% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Veritable L.P. raised its stake in Apollo Global Management by 1.4% in the second quarter. Veritable L.P. now owns 13,037 shares of the financial services provider’s stock worth $345,000 after buying an additional 182 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Apollo Global Management during the second quarter worth approximately $1,593,000. Renaissance Technologies LLC raised its stake in Apollo Global Management by 29.1% in the second quarter. Renaissance Technologies LLC now owns 861,934 shares of the financial services provider’s stock worth $22,798,000 after buying an additional 194,102 shares in the last quarter. Globeflex Capital L P increased its position in shares of Apollo Global Management by 101.8% in the second quarter. Globeflex Capital L P now owns 66,862 shares of the financial services provider’s stock worth $1,768,000 after buying an additional 33,721 shares during the last quarter. Finally, Advisor Group Inc. increased its position in shares of Apollo Global Management by 7.3% in the second quarter. Advisor Group Inc. now owns 28,012 shares of the financial services provider’s stock worth $741,000 after buying an additional 1,917 shares during the last quarter. Institutional investors own 75.47% of the company’s stock.

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Shares of Apollo Global Management (NYSE APO) opened at 29.39 on Monday. The firm has a market cap of $5.67 billion, a PE ratio of 11.51 and a beta of 1.22. The firm’s 50-day moving average price is $27.68 and its 200 day moving average price is $25.55. Apollo Global Management has a 52 week low of $17.38 and a 52 week high of $30.18.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The firm had revenue of $432.87 million for the quarter, compared to the consensus estimate of $455.29 million. During the same period in the previous year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was down 34.5% on a year-over-year basis. Equities analysts anticipate that Apollo Global Management will post $2.46 EPS for the current year.

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

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.

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