Apollo Global Management (NYSE:APO) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Apollo Global Management (NYSE:APO) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Other analysts also recently issued research reports about the stock. JMP Securities reiterated a market perform rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Jefferies Financial Group dropped their price objective on Apollo Global Management from $119.00 to $117.00 and set a hold rating for the company in a research note on Thursday, May 9th. JPMorgan Chase & Co. increased their target price on Apollo Global Management from $122.00 to $123.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. Barclays dropped their target price on Apollo Global Management from $133.00 to $131.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an outperform rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $115.62.

Apollo Global Management Stock Up 0.9 %

Shares of NYSE:APO opened at $117.32 on Wednesday. The company has a market capitalization of $66.66 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.95 and a beta of 1.61. Apollo Global Management has a 12-month low of $72.44 and a 12-month high of $119.69. The business has a 50-day moving average price of $112.96 and a 200 day moving average price of $106.59. 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 earnings results 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). The company had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $827.33 million. Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. Sell-side analysts expect that Apollo Global Management will post 7.19 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $0.463 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, May 16th. Apollo Global Management’s payout ratio is 20.49%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apollo Global Management

A number of institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its stake in shares of Apollo Global Management by 21.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 87,538 shares of the financial services provider’s stock valued at $9,820,000 after purchasing an additional 15,526 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Apollo Global Management by 21.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 206,800 shares of the financial services provider’s stock valued at $23,255,000 after buying an additional 36,800 shares in the last quarter. Cetera Advisors LLC increased its stake in Apollo Global Management by 415.2% in the 1st quarter. Cetera Advisors LLC now owns 13,875 shares of the financial services provider’s stock valued at $1,560,000 after purchasing an additional 11,182 shares in the last quarter. Cetera Investment Advisers raised its position in Apollo Global Management by 404.4% during the first quarter. Cetera Investment Advisers now owns 49,561 shares of the financial services provider’s stock worth $5,573,000 after acquiring an additional 39,735 shares during the last quarter. Finally, PGGM Investments purchased a new stake in shares of Apollo Global Management in the first quarter valued at about $840,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Company Profile

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.