Citigroup Inc. Raises Apollo Global Management, LLC (APO) Price Target to $38.00

Apollo Global Management, LLC (NYSE:APO) had its price objective boosted by Citigroup Inc. from $35.50 to $38.00 in a research note published on Thursday morning. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on APO. Morgan Stanley restated an equal weight rating and set a $26.00 price objective (up previously from $25.00) on shares of Apollo Global Management in a research report on Monday, July 10th. Zacks Investment Research lowered Apollo Global Management from a strong-buy rating to a hold rating in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. boosted their price objective on Apollo Global Management from $31.00 to $33.00 and gave the company an outperform rating in a research report on Friday, July 14th. Keefe, Bruyette & Woods restated a buy rating and set a $33.00 price objective on shares of Apollo Global Management in a research report on Friday, July 14th. Finally, BidaskClub upgraded Apollo Global Management from a buy rating to a strong-buy rating in a research report on Monday, July 31st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $33.31.

Apollo Global Management (APO) traded up $0.65 during trading hours on Thursday, reaching $31.29. The company had a trading volume of 1,333,735 shares, compared to its average volume of 866,217. Apollo Global Management has a twelve month low of $17.65 and a twelve month high of $33.37. The firm has a market cap of $6,067.54, a price-to-earnings ratio of 9.40, a P/E/G ratio of 1.20 and a beta of 1.23. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.65.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.51. Apollo Global Management had a return on equity of 66.61% and a net margin of 24.82%. The business had revenue of $645.20 million during the quarter, compared to analyst estimates of $467.72 million. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 31.1% compared to the same quarter last year. sell-side analysts forecast that Apollo Global Management will post 2.77 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.56 dividend on an annualized basis and a yield of 4.99%. Apollo Global Management’s dividend payout ratio (DPR) is presently 67.97%.

In other news, Director A B. Krongard acquired 1,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were bought at an average price of $29.28 per share, with a total value of $29,280.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Tiger Global Management Llc acquired 253,672 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was purchased at an average cost of $28.48 per share, for a total transaction of $7,224,578.56. The disclosure for this purchase can be found here. Insiders bought a total of 294,672 shares of company stock worth $8,444,659 in the last three months. Company insiders own 4.11% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tiger Global Management LLC raised its stake in shares of 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 worth $869,814,000 after buying an additional 9,550,313 shares in the last quarter. Capital World Investors raised its stake in shares of 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 worth $202,335,000 after buying an additional 1,082,313 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 worth $138,648,000 after buying an additional 1,707,154 shares in the last quarter. GMT Capital Corp raised its stake in shares of 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 worth $112,421,000 after buying an additional 2,951,622 shares in the last quarter. Finally, Beck Mack & Oliver LLC raised its stake in shares of Apollo Global Management by 2.0% in the 2nd quarter. Beck Mack & Oliver LLC now owns 3,056,035 shares of the financial services provider’s stock worth $80,832,000 after buying an additional 60,473 shares in the last quarter. 73.52% of the stock is currently 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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