Apollo Global Management, LLC (APO) Receives $30.18 Average Target Price from Analysts

Apollo Global Management, LLC (NYSE:APO) has been assigned an average recommendation of “Buy” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $30.18.

A number of equities analysts have issued reports on APO shares. Jefferies Group LLC restated a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 3rd. UBS AG restated a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Apollo Global Management in a report on Friday, August 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $33.00 target price on shares of Apollo Global Management in a report on Friday, July 14th. Zacks Investment Research upgraded Apollo Global Management from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, July 3rd. Finally, Morgan Stanley raised their target price on Apollo Global Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th.

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In other Apollo Global Management news, Director A B. Krongard acquired 1,000 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were acquired at an average price of $29.28 per share, for a total transaction of $29,280.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Tiger Global Management Llc acquired 109,026 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $27.95 per share, for a total transaction of $3,047,276.70. The disclosure for this purchase can be found here. Insiders have bought a total of 433,698 shares of company stock worth $12,358,335 in the last quarter. 4.11% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APO. Tiger Global Management LLC lifted its stake in Apollo Global Management by 40.9% in the 2nd quarter. Tiger Global Management LLC now owns 32,885,212 shares of the financial services provider’s stock valued at $869,814,000 after acquiring an additional 9,550,313 shares in the last quarter. GMT Capital Corp lifted its stake in Apollo Global Management by 224.2% in the 2nd quarter. GMT Capital Corp now owns 4,268,063 shares of the financial services provider’s stock valued at $112,421,000 after acquiring an additional 2,951,622 shares in the last quarter. Bank of Montreal Can bought a new stake in Apollo Global Management in the 2nd quarter valued at approximately $54,333,000. JPMorgan Chase & Co. lifted its stake in Apollo Global Management by 48.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,241,867 shares of the financial services provider’s stock valued at $138,648,000 after acquiring an additional 1,707,154 shares in the last quarter. Finally, Capital World Investors lifted its stake in Apollo Global Management by 16.5% in the 2nd quarter. Capital World Investors now owns 7,649,700 shares of the financial services provider’s stock valued at $202,335,000 after acquiring an additional 1,082,313 shares in the last quarter. Hedge funds and other institutional investors own 73.52% of the company’s stock.

Apollo Global Management (NYSE:APO) traded down 2.54% during mid-day trading on Wednesday, reaching $31.45. 876,068 shares of the company’s stock were exchanged. Apollo Global Management has a 52 week low of $17.65 and a 52 week high of $32.85. The stock has a 50-day moving average price of $30.64 and a 200-day moving average price of $28.34. The stock has a market cap of $6.10 billion, a P/E ratio of 12.32 and a beta of 1.20.

Apollo Global Management (NYSE:APO) last issued its earnings results 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 59.61% and a net margin of 21.79%. The company had revenue of $432.87 million for the quarter, compared to the consensus estimate of $455.29 million. During the same quarter last year, the business posted $0.98 EPS. Apollo Global Management’s quarterly revenue was down 34.5% on a year-over-year basis. On average, analysts forecast that Apollo Global Management will post $2.50 earnings per share for the current year.

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.

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