Credit Suisse Group Boosts Apollo Global Management, LLC (APO) Price Target to $35.00

Apollo Global Management, LLC (NYSE:APO) had its price objective raised by Credit Suisse Group from $32.00 to $35.00 in a research note issued on Thursday. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 10.83% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. increased their price objective on Apollo Global Management from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. BidaskClub upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Apollo Global Management from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, October 10th. JMP Securities reiterated an “outperform” rating and issued a $32.00 price objective on shares of Apollo Global Management in a report on Friday, August 4th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $33.00 price objective on shares of Apollo Global Management in a report on Friday, July 14th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $33.15.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.51. The company had revenue of $645.20 million during the quarter, compared to analysts’ expectations of $467.72 million. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. Apollo Global Management’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 EPS.

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In related news, major shareholder Tiger Global Management Llc bought 253,672 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was purchased at an average price of $28.48 per share, for a total transaction of $7,224,578.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John J. Suydam sold 46,617 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,398,976.17. The disclosure for this sale can be found here. In the last quarter, insiders acquired 294,672 shares of company stock valued at $8,444,659. 4.11% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of APO. Tiger Global Management LLC boosted its position 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 buying an additional 9,550,313 shares during the period. GMT Capital Corp boosted its position 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 buying an additional 2,951,622 shares during the period. Bank of Montreal Can purchased a new position in Apollo Global Management in the 2nd quarter valued at approximately $54,333,000. JPMorgan Chase & Co. boosted its position 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 buying an additional 1,707,154 shares during the period. Finally, Capital World Investors boosted its position 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 buying an additional 1,082,313 shares during the period. 73.52% of the stock is owned by institutional investors.

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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