Apollo Global Management LLC (NYSE:APO) shares gapped up before the market opened on Tuesday . The stock had previously closed at $34.32, but opened at $33.66. Apollo Global Management shares last traded at $33.96, with a volume of 1,354,166 shares.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. TheStreet raised shares of Apollo Global Management from a “c” rating to an “a-” rating in a research report on Friday, May 3rd. Credit Suisse Group raised shares of Apollo Global Management from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $39.00 to $42.00 in a research report on Tuesday, May 21st. Morgan Stanley raised their price target on shares of Apollo Global Management from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Finally, Wells Fargo & Co raised their price target on shares of Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Apollo Global Management currently has a consensus rating of “Buy” and a consensus target price of $39.56.
The stock has a market cap of $6.76 billion, a price-to-earnings ratio of -173.81, a P/E/G ratio of 0.90 and a beta of 1.50. The business’s fifty day simple moving average is $34.23 and its 200 day simple moving average is $31.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.64 and a quick ratio of 1.64.
Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The business had revenue of $523.30 million for the quarter, compared to analysts’ expectations of $398.72 million. Apollo Global Management’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, equities analysts forecast that Apollo Global Management LLC will post 2.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.00 dividend on an annualized basis and a yield of 5.46%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is presently -952.38%.
In related news, Director Pauline Richards bought 2,720 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $30.85 per share, with a total value of $83,912.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 49.50% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Accuvest Global Advisors bought a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $408,000. Amundi Pioneer Asset Management Inc. raised its holdings in Apollo Global Management by 46.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 588,058 shares of the financial services provider’s stock worth $16,613,000 after acquiring an additional 186,658 shares during the last quarter. Usca Ria LLC raised its stake in Apollo Global Management by 4.5% during the 2nd quarter. Usca Ria LLC now owns 40,849 shares of the financial services provider’s stock valued at $1,401,000 after buying an additional 1,741 shares during the last quarter. Ellis Investment Partners LLC purchased a new stake in Apollo Global Management during the 1st quarter valued at $60,000. Finally, Arlington Partners LLC purchased a new stake in Apollo Global Management during the 2nd quarter valued at $34,000. Institutional investors own 73.29% of the company’s stock.
Apollo Global Management Company Profile (NYSE:APO)
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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