Apollo Global Management (APO) Stock Rating Lowered by Citigroup

Citigroup cut shares of Apollo Global Management (NYSE:APO) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, The Fly reports.

APO has been the subject of several other research reports. Zacks Investment Research cut Apollo Global Management from a buy rating to a hold rating in a report on Wednesday, November 8th. Morgan Stanley raised Apollo Global Management from an equal weight rating to an overweight rating and set a $42.00 price target for the company in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $35.00 price target on shares of Apollo Global Management in a report on Thursday, October 12th. ValuEngine raised Apollo Global Management from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Finally, Jefferies Group reaffirmed a buy rating and issued a $34.00 price target on shares of Apollo Global Management in a report on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $34.46.

Shares of Apollo Global Management (NYSE:APO) opened at $34.74 on Friday. Apollo Global Management has a fifty-two week low of $20.54 and a fifty-two week high of $36.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market capitalization of $6,723.58, a P/E ratio of 11.35, a P/E/G ratio of 1.03 and a beta of 1.23.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.56 by $0.51. Apollo Global Management had a return on equity of 64.11% and a net margin of 24.82%. The firm had revenue of $645.20 million during the quarter, compared to analysts’ expectations of $467.72 million. During the same quarter last year, the firm earned $0.58 earnings per share. The business’s revenue for the quarter was up 31.1% on a year-over-year basis. research analysts forecast that Apollo Global Management will post 2.99 EPS for the current year.

In other Apollo Global Management news, major shareholder Tiger Global Management Llc bought 43,714 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was bought at an average price of $29.18 per share, with a total value of $1,275,574.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.11% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Apollo Global Management during the second quarter worth $240,000. JPMorgan Chase & Co. boosted its position in shares of Apollo Global Management by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 5,394,866 shares of the financial services provider’s stock worth $163,950,000 after buying an additional 152,999 shares during the period. Renaissance Technologies LLC boosted its position in shares of Apollo Global Management by 29.1% during 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 during the period. Thornburg Investment Management Inc. boosted its position in shares of Apollo Global Management by 1.8% during the third quarter. Thornburg Investment Management Inc. now owns 1,003,908 shares of the financial services provider’s stock worth $30,218,000 after buying an additional 17,490 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Apollo Global Management by 20.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,279 shares of the financial services provider’s stock worth $695,000 after buying an additional 4,460 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.

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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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