Apollo Global Management LLC (APO) Stock Rating Lowered by Zacks Investment Research

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

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. “

A number of other research analysts also recently weighed in on APO. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $25.00 target price (up from $23.00) on shares of Apollo Global Management in a research report on Tuesday, February 7th. Jefferies Group LLC increased their target price on shares of Apollo Global Management from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. TheStreet raised shares of Apollo Global Management from a “c” rating to a “b-” rating in a research report on Friday, February 3rd. Citigroup Inc started coverage on shares of Apollo Global Management in a research report on Wednesday, January 25th. They set a “buy” rating and a $25.00 target price for the company. Finally, Wells Fargo & Co raised shares of Apollo Global Management from a “market perform” rating to an “outperform” rating in a research report on Monday, February 6th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Apollo Global Management currently has an average rating of “Buy” and an average target price of $23.62.

Analyst Recommendations for Apollo Global Management (NYSE:APO)

Apollo Global Management (NYSE:APO) traded down 2.30% during trading on Friday, reaching $25.01. The company’s stock had a trading volume of 1,553,919 shares. The company has a market cap of $4.68 billion, a P/E ratio of 11.86 and a beta of 1.19. The stock’s 50-day moving average is $24.04 and its 200 day moving average is $21.03. Apollo Global Management has a 12 month low of $14.25 and a 12 month high of $26.22.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Friday, February 3rd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.29. Apollo Global Management had a net margin of 20.44% and a return on equity of 70.68%. The business earned $685.40 million during the quarter, compared to the consensus estimate of $511.56 million. During the same period in the prior year, the firm posted $0.19 EPS. The firm’s quarterly revenue was up 253.8% compared to the same quarter last year. On average, equities analysts forecast that Apollo Global Management will post $2.30 EPS for the current fiscal year.

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In other news, major shareholder Tiger Global Management Llc bought 146,475 shares of the stock in a transaction on Wednesday, April 19th. The shares were acquired at an average cost of $25.70 per share, for a total transaction of $3,764,407.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John J. Suydam sold 100,000 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $22.10, for a total transaction of $2,210,000.00. The disclosure for this sale can be found here. Insiders acquired a total of 5,147,000 shares of company stock worth $130,832,925 over the last quarter. Corporate insiders own 4.11% of the company’s stock.

Institutional investors have recently modified their holdings of the company. TCI Wealth Advisors Inc. raised its position in shares of Apollo Global Management by 2.0% in the third quarter. TCI Wealth Advisors Inc. now owns 6,307 shares of the financial services provider’s stock worth $113,000 after buying an additional 124 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Apollo Global Management by 89.1% in the third quarter. Tower Research Capital LLC TRC now owns 7,832 shares of the financial services provider’s stock worth $141,000 after buying an additional 3,691 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Apollo Global Management by 50.0% in the third quarter. Acrospire Investment Management LLC now owns 8,550 shares of the financial services provider’s stock worth $154,000 after buying an additional 2,850 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Apollo Global Management during the fourth quarter worth approximately $215,000. Finally, Origin Asset Management LLP bought a new position in shares of Apollo Global Management during the fourth quarter worth approximately $279,000. 63.79% of the stock is currently owned by hedge funds and other institutional investors.

About Apollo Global Management

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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