Apollo Global Management (NYSE:APO) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Apollo Global Management (NYSE:APO) in a report published on Wednesday, MarketBeat reports. The firm issued an outperform rating and a $139.00 price target on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. Redburn Partners began coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a buy rating and a $153.00 price target for the company. TD Cowen increased their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a buy rating in a research note on Monday, July 8th. Redburn Atlantic initiated coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a buy rating and a $153.00 price target on the stock. Evercore ISI upped their price target on Apollo Global Management from $128.00 to $130.00 and gave the company an outperform rating in a report on Monday, July 15th. Finally, StockNews.com lowered Apollo Global Management from a hold rating to a sell rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Apollo Global Management presently has an average rating of Moderate Buy and an average price target of $129.65.

Apollo Global Management Trading Up 0.2 %

Apollo Global Management stock opened at $125.81 on Wednesday. Apollo Global Management has a 12-month low of $77.11 and a 12-month high of $126.93. The stock has a market capitalization of $71.48 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61. The firm has a 50 day simple moving average of $113.99 and a 200-day simple moving average of $114.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter last year, the business posted $1.54 earnings per share. As a group, equities research analysts expect that Apollo Global Management will post 6.62 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is presently 20.49%.

Insiders Place Their Bets

In related news, Director Pauline Richards purchased 2,351 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the purchase, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Curated Wealth Partners LLC lifted its holdings in shares of Apollo Global Management by 200.3% during the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after buying an additional 4,717,661 shares during the last quarter. TD Asset Management Inc raised its position in Apollo Global Management by 4,248.9% during the fourth quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after acquiring an additional 2,402,686 shares in the last quarter. Capital Research Global Investors lifted its stake in Apollo Global Management by 40.3% in the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares during the last quarter. Third Point LLC bought a new stake in Apollo Global Management in the fourth quarter worth approximately $83,871,000. Finally, Vanguard Group Inc. increased its stake in shares of Apollo Global Management by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares during the last quarter. Hedge funds and other 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, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.