Apollo Global Management (APO) Lowered to “Hold” at Zacks Investment Research

Apollo Global Management (NYSE:APO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, February 2nd.

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. “

Several other equities research analysts also recently commented on the stock. Citigroup downgraded shares of Apollo Global Management from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research note on Friday, January 19th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $35.00 target price on shares of Apollo Global Management in a research note on Thursday, October 12th. ValuEngine upgraded shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Morgan Stanley reiterated an “equal weight” rating and set a $30.00 price target (up previously from $28.00) on shares of Apollo Global Management in a research report on Thursday, October 5th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $39.00 price target (up previously from $34.00) on shares of Apollo Global Management in a research report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $36.33.

Apollo Global Management (NYSE APO) opened at $32.89 on Friday. The stock has a market cap of $6,257.15, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.94 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.74 and a current ratio of 1.74. Apollo Global Management has a 52-week low of $21.39 and a 52-week high of $37.35.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, February 1st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.55. The firm had revenue of $869.50 million for the quarter, compared to analyst estimates of $599.38 million. Apollo Global Management had a net margin of 23.92% and a return on equity of 66.33%. The business’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. analysts expect that Apollo Global Management will post 3.1 EPS for the current fiscal year.

In other news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $32.68, for a total value of $163,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joshua Harris sold 4,500,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $34.00, for a total value of $153,000,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,520,000 shares of company stock valued at $153,677,150. 4.11% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Apollo Global Management by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,394,866 shares of the financial services provider’s stock worth $163,950,000 after purchasing an additional 152,999 shares in the last quarter. Beck Mack & Oliver LLC increased its stake in Apollo Global Management by 1.1% during the 4th quarter. Beck Mack & Oliver LLC now owns 3,093,673 shares of the financial services provider’s stock worth $103,545,000 after purchasing an additional 34,943 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Apollo Global Management by 6.8% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,389,884 shares of the financial services provider’s stock worth $71,936,000 after purchasing an additional 152,657 shares in the last quarter. CDAM UK Ltd bought a new stake in Apollo Global Management during the 4th quarter worth approximately $77,206,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Apollo Global Management by 56.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,233,286 shares of the financial services provider’s stock worth $41,278,000 after purchasing an additional 443,134 shares in the last quarter. 71.41% of the stock is owned by institutional investors and hedge funds.

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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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