Apollo Global Management (NYSE:APO) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Apollo Global Management (NYSE:APO) from a sell rating to a hold rating in a report issued on Thursday.

Several other analysts have also commented on APO. BMO Capital Markets raised their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an outperform rating in a report on Friday, April 5th. Jefferies Financial Group cut their price target on shares of Apollo Global Management from $119.00 to $117.00 and set a hold rating on the stock in a report on Thursday, May 9th. Barclays dropped their price objective on Apollo Global Management from $133.00 to $131.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. JMP Securities reissued a market perform rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Finally, Evercore ISI raised their price target on shares of Apollo Global Management from $120.00 to $128.00 and gave the company an outperform rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $115.62.

Apollo Global Management Stock Down 0.1 %

APO opened at $118.00 on Thursday. The company has a market cap of $67.04 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.98 and a beta of 1.61. Apollo Global Management has a 12 month low of $73.77 and a 12 month high of $119.69. The business’s 50-day moving average price is $114.13 and its 200-day moving average price is $107.70. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.21). Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $827.33 million. On average, equities analysts expect that Apollo Global Management will post 7.14 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.463 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.57%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the sale, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at $40,002,634.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apollo Global Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC increased its holdings in Apollo Global Management by 7.3% in the 3rd quarter. LPL Financial LLC now owns 164,462 shares of the financial services provider’s stock valued at $14,762,000 after acquiring an additional 11,239 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Apollo Global Management by 57.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 12,176 shares of the financial services provider’s stock worth $1,093,000 after buying an additional 4,437 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Apollo Global Management by 20.3% during the third quarter. Qube Research & Technologies Ltd now owns 318,010 shares of the financial services provider’s stock valued at $28,545,000 after buying an additional 53,693 shares during the last quarter. Bamco Inc. NY grew its holdings in Apollo Global Management by 7.0% during the 3rd quarter. Bamco Inc. NY now owns 23,000 shares of the financial services provider’s stock valued at $2,064,000 after buying an additional 1,500 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in Apollo Global Management in the 3rd quarter worth approximately $395,000. Institutional investors own 77.06% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.