Keefe, Bruyette & Woods reaffirmed their buy rating on shares of Apollo Global Management LLC (NYSE:APO) in a research note published on Friday morning. The brokerage currently has a $25.00 target price on the stock.
A number of other equities analysts have also weighed in on the company. Goldman Sachs Group Inc upgraded Apollo Global Management from a neutral rating to a buy rating and lifted their price objective for the company from $20.00 to $24.00 in a research note on Wednesday, January 4th. Bank of America Corp upgraded Apollo Global Management from a neutral rating to a buy rating and set a $27.00 price objective for the company in a research note on Monday, February 6th. JMP Securities lifted their price objective on Apollo Global Management to $30.00 in a research note on Monday, February 6th. Wells Fargo & Co upgraded Apollo Global Management from a market perform rating to an outperform rating in a research note on Monday, February 6th. Finally, Zacks Investment Research upgraded Apollo Global Management from a hold rating to a buy rating and set a $22.00 price objective for the company in a research note on Wednesday, November 30th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $23.05.
Apollo Global Management (NYSE:APO) traded up 1.91% during trading on Friday, hitting $23.43. The stock had a trading volume of 740,131 shares. Apollo Global Management has a 52-week low of $14.25 and a 52-week high of $24.00. The firm’s 50-day moving average price is $22.55 and its 200-day moving average price is $19.97. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 11.11 and a beta of 1.19.
Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Friday, February 3rd. The company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.21. The business earned $685.40 million during the quarter, compared to analyst estimates of $511.56 million. Apollo Global Management had a return on equity of 70.68% and a net margin of 20.44%. The company’s revenue was up 253.8% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Analysts predict that Apollo Global Management will post $2.28 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 21st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.83%. The ex-dividend date of this dividend was Thursday, February 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.35. Apollo Global Management’s payout ratio is currently 66.99%.
In other Apollo Global Management news, Director A B. Krongard purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was purchased at an average price of $23.01 per share, for a total transaction of $46,020.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John J. Suydam sold 100,000 shares of Apollo Global Management stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $22.10, for a total value of $2,210,000.00. The disclosure for this sale can be found here. 4.11% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. raised its position in shares of Apollo Global Management by 18.7% in the third quarter. Oppenheimer & Co. Inc. now owns 32,553 shares of the company’s stock valued at $585,000 after buying an additional 5,117 shares in the last quarter. Sei Investments Co. boosted its stake in Apollo Global Management by 2.1% in the third quarter. Sei Investments Co. now owns 329,050 shares of the company’s stock valued at $5,910,000 after buying an additional 6,800 shares during the last quarter. Toronto Dominion Bank boosted its stake in Apollo Global Management by 217.7% in the third quarter. Toronto Dominion Bank now owns 927,512 shares of the company’s stock valued at $16,658,000 after buying an additional 635,591 shares during the last quarter. Alps Advisors Inc. purchased a new stake in Apollo Global Management during the third quarter valued at about $403,000. Finally, TCI Wealth Advisors Inc. boosted its stake in Apollo Global Management by 2.0% in the third quarter. TCI Wealth Advisors Inc. now owns 6,307 shares of the company’s stock valued at $113,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 63.79% of the company’s stock.
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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