Apollo Global Management (NYSE:APO) Posts Earnings Results, Beats Estimates By $0.04 EPS

Apollo Global Management (NYSE:APO – Get Rating) posted its quarterly earnings results on Thursday. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04, Fidelity Earnings reports. Apollo Global Management had a negative net margin of 44.62% and a positive return on equity of 36.22%. During the same quarter in the previous year, the firm posted $1.14 EPS.

Apollo Global Management Stock Down 0.8 %

Apollo Global Management stock traded down $0.46 during trading on Friday, reaching $57.53. 1,764,617 shares of the company’s stock were exchanged, compared to its average volume of 1,927,094. The firm has a market cap of $33.05 billion, a price-to-earnings ratio of -18.50, a PEG ratio of 0.68 and a beta of 1.65. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.71 and a current ratio of 0.71. Apollo Global Management has a 52-week low of $45.97 and a 52-week high of $81.07. The company’s 50-day moving average is $53.20 and its two-hundred day moving average is $58.05.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Thursday, August 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.60 annualized dividend and a yield of 2.78%. Apollo Global Management’s payout ratio is -51.45%.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $54.60, for a total value of $819,000.00. Following the completion of the transaction, the chief financial officer now directly owns 526,385 shares in the company, valued at $28,740,621. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apollo Global Management

Several large investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its stake in Apollo Global Management by 7,183.3% during the first quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock valued at $27,000 after buying an additional 431 shares in the last quarter. Zions Bancorporation N.A. bought a new position in Apollo Global Management during the first quarter worth $30,000. Carolinas Wealth Consulting LLC acquired a new position in shares of Apollo Global Management in the 1st quarter valued at about $37,000. Centaurus Financial Inc. bought a new position in shares of Apollo Global Management during the first quarter valued at approximately $124,000. Finally, Brown Brothers Harriman & Co. grew its stake in Apollo Global Management by 28.4% during the 1st quarter. Brown Brothers Harriman & Co. now owns 3,164 shares of the financial services provider’s stock worth $196,000 after buying an additional 700 shares during the last quarter. Institutional investors own 61.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Apollo Global Management from $88.00 to $91.00 in a report on Friday. Morgan Stanley lowered shares of Apollo Global Management from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $81.00 to $60.00 in a research report on Tuesday, July 19th. Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Oppenheimer raised Apollo Global Management from a “market perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research note on Wednesday, April 13th. Finally, TheStreet lowered Apollo Global Management from a “b” rating to a “c” rating in a research note on Thursday, May 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.44.

Apollo Global Management Company Profile

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Apollo Global Management, Inc is a private equity firm specializing 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.