Apollo Global Management (NYSE:APO) Releases Earnings Results, Beats Expectations By $0.04 EPS

Apollo Global Management (NYSE:APOGet Rating) announced its quarterly earnings results on Thursday. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04, Fidelity Earnings reports. Apollo Global Management had a net margin of 6.39% and a return on equity of 30.91%. During the same quarter in the previous year, the company posted $1.14 EPS.

Apollo Global Management Trading Down 0.8 %

Shares of APO stock traded down $0.46 on Friday, hitting $57.53. 1,764,402 shares of the company’s stock traded hands, compared to its average volume of 3,523,582. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.71 and a current ratio of 0.71. Apollo Global Management has a one year low of $45.97 and a one year high of $81.07. The company’s fifty day simple moving average is $53.26 and its 200 day simple moving average is $58.12. The stock has a market capitalization of $33.05 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 0.67 and a beta of 1.65.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Thursday, August 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, August 17th. Apollo Global Management’s dividend payout ratio is currently 51.28%.

Wall Street Analyst Weigh In

A number of analysts recently commented on APO shares. Citigroup dropped their price target on shares of Apollo Global Management from $105.00 to $87.50 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. Morgan Stanley cut shares of Apollo Global Management from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $81.00 to $60.00 in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Apollo Global Management from $88.00 to $91.00 in a research note on Friday. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Finally, Wells Fargo & Company lowered their target price on shares of Apollo Global Management from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Apollo Global Management has an average rating of “Hold” and an average target price of $79.44.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 20,000 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $55.06, for a total transaction of $1,101,200.00. Following the transaction, the chief financial officer now owns 541,385 shares of the company’s stock, valued at approximately $29,808,658.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Apollo Global Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Apollo Global Management during the 1st quarter valued at $312,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Apollo Global Management during the first quarter valued at about $296,000. Ancora Advisors LLC purchased a new stake in shares of Apollo Global Management during the first quarter worth about $293,000. EP Wealth Advisors LLC purchased a new stake in shares of Apollo Global Management during the first quarter worth about $268,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of Apollo Global Management in the first quarter worth about $214,000. Institutional investors own 61.48% of the company’s stock.

About Apollo Global Management

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Apollo Global Management, Inc is a private equity firm specializing 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.

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Earnings History for Apollo Global Management (NYSE:APO)

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