Apollo Global Management (NYSE:APO) Given “Buy” Rating at Barclays

Barclays reiterated their buy rating on shares of Apollo Global Management (NYSE:APO) in a research report sent to investors on Sunday morning, AnalystRatings.com reports. They currently have a $44.00 target price on the financial services provider’s stock.

A number of other brokerages have also weighed in on APO. Bank of America lifted their target price on shares of Apollo Global Management from $40.00 to $46.00 and gave the company a buy rating in a research note on Monday, September 23rd. UBS Group lifted their target price on shares of Apollo Global Management from $37.00 to $45.00 and gave the company a buy rating in a research note on Friday, September 20th. ValuEngine lowered shares of Apollo Global Management from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Morgan Stanley lifted their target price on shares of Apollo Global Management from $33.00 to $36.00 and gave the company an equal weight rating in a research note on Tuesday, July 9th. Finally, Zacks Investment Research lowered shares of Apollo Global Management from a buy rating to a hold rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $42.58.

Shares of APO traded down $0.05 during trading hours on Friday, reaching $38.67. 5,448,400 shares of the company traded hands, compared to its average volume of 1,549,697. The company’s fifty day moving average price is $38.86 and its two-hundred day moving average price is $34.21. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of -184.14, a price-to-earnings-growth ratio of 1.04 and a beta of 1.48. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.24. Apollo Global Management has a 12 month low of $22.63 and a 12 month high of $41.79.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The firm had revenue of $523.30 million for the quarter, compared to analysts’ expectations of $398.72 million. The company’s quarterly revenue was down 17.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. On average, analysts expect that Apollo Global Management will post 2.37 EPS for the current year.

In related news, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $39.96, for a total transaction of $159,840.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pauline Richards acquired 2,720 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $30.85 per share, for a total transaction of $83,912.00. The disclosure for this purchase can be found here. Insiders own 46.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Morgan Stanley raised its holdings in Apollo Global Management by 19.6% in the second quarter. Morgan Stanley now owns 8,166,139 shares of the financial services provider’s stock worth $280,099,000 after buying an additional 1,338,115 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Apollo Global Management by 387.3% in the second quarter. Janus Henderson Group PLC now owns 3,675,355 shares of the financial services provider’s stock worth $126,065,000 after buying an additional 2,921,103 shares during the last quarter. Invesco Ltd. raised its holdings in Apollo Global Management by 755.9% in the second quarter. Invesco Ltd. now owns 1,708,708 shares of the financial services provider’s stock worth $58,609,000 after buying an additional 1,509,059 shares during the last quarter. Markel Corp raised its holdings in Apollo Global Management by 2.2% in the second quarter. Markel Corp now owns 1,012,500 shares of the financial services provider’s stock worth $34,729,000 after buying an additional 22,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Apollo Global Management by 461.1% in the second quarter. Wells Fargo & Company MN now owns 1,012,332 shares of the financial services provider’s stock worth $34,723,000 after buying an additional 831,898 shares during the last quarter. 72.51% of the stock is owned by institutional investors and hedge funds.

About Apollo Global Management

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Analyst Recommendations for Apollo Global Management (NYSE:APO)

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