Apollo Global Management (NYSE:APO) Stock Rating Upgraded by Zacks Investment Research

Apollo Global Management (NYSE:APO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, December 19th. The brokerage presently has a $37.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 3.09% from the stock’s current price.

According to Zacks, “Apollo Management, L.P. operates as an alternative asset manager globally. The Company operates in three business segments: private equity, capital markets and real estate. It raises, invests and manages funds on behalf of pension and endowment funds, as well as other institutional and individual investors. Apollo Management, L.P. is headquartered in New York, New York. “

Other equities research analysts have also recently issued reports about the stock. Jefferies Group reissued a “buy” rating and issued a $34.00 price objective on shares of Apollo Global Management in a research report on Tuesday, September 26th. Citigroup boosted their price objective on shares of Apollo Global Management from $35.50 to $38.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $35.00 price objective on shares of Apollo Global Management in a research report on Thursday, October 12th. Morgan Stanley reissued an “equal weight” rating and issued a $30.00 price objective (up from $28.00) on shares of Apollo Global Management in a research report on Thursday, October 5th. Finally, Credit Suisse Group boosted their price objective on shares of Apollo Global Management from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Apollo Global Management has a consensus rating of “Buy” and an average price target of $34.46.

Apollo Global Management (APO) traded up $0.33 during mid-day trading on Tuesday, hitting $35.89. 804,999 shares of the company were exchanged, compared to its average volume of 861,705. Apollo Global Management has a 52-week low of $20.38 and a 52-week high of $36.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market cap of $6,950.00, a PE ratio of 11.81, a PEG ratio of 1.16 and a beta of 1.22.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.51. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The firm had revenue of $645.20 million during the quarter, compared to analysts’ expectations of $467.72 million. During the same period in the previous year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. equities research analysts predict that Apollo Global Management will post 2.96 earnings per share for the current fiscal year.

In other Apollo Global Management news, major shareholder Tiger Global Management Llc purchased 43,714 shares of Apollo Global Management stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average price of $29.18 per share, for a total transaction of $1,275,574.52. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.11% of the company’s stock.

Several large investors have recently bought and sold shares of APO. Janney Montgomery Scott LLC bought a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $211,000. Alps Advisors Inc. raised its stake in shares of Apollo Global Management by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 20,534 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 53 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $240,000. Legal & General Group Plc raised its stake in shares of Apollo Global Management by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 508,696 shares of the financial services provider’s stock worth $13,478,000 after acquiring an additional 68,953 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Apollo Global Management by 4,656.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 65,491 shares of the financial services provider’s stock worth $1,732,000 after acquiring an additional 64,114 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

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Apollo Global Management Company Profile

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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