Apollo Global Management LLC (APO) Major Shareholder Tiger Global Management Llc Purchases 100,000 Shares

Apollo Global Management LLC (NYSE:APO) major shareholder Tiger Global Management Llc purchased 100,000 shares of the company’s stock in a transaction on Friday, March 23rd. The shares were bought at an average cost of $30.34 per share, with a total value of $3,034,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Apollo Global Management LLC (APO) traded up $0.35 during trading on Monday, reaching $30.51. The company had a trading volume of 926,109 shares, compared to its average volume of 1,079,810. Apollo Global Management LLC has a 52-week low of $22.91 and a 52-week high of $37.35. The firm has a market capitalization of $6,078.33, a PE ratio of 9.81, a P/E/G ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.52.

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Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, February 1st. The financial services provider reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.55. Apollo Global Management had a return on equity of 62.94% and a net margin of 23.92%. The firm had revenue of $869.50 million for the quarter, compared to analysts’ expectations of $599.38 million. During the same quarter last year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. analysts predict that Apollo Global Management LLC will post 3.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 21st were issued a $0.66 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $2.64 dividend on an annualized basis and a yield of 8.65%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.39. Apollo Global Management’s dividend payout ratio (DPR) is presently 84.89%.

Institutional investors have recently modified their holdings of the stock. Pinnacle Holdings LLC boosted its holdings in Apollo Global Management by 496.1% in the fourth quarter. Pinnacle Holdings LLC now owns 3,785 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 3,150 shares during the last quarter. Camarda Financial Advisors LLC acquired a new position in Apollo Global Management in the fourth quarter valued at $186,000. Moors & Cabot Inc. acquired a new position in Apollo Global Management in the fourth quarter valued at $200,000. Waratah Capital Advisors Ltd. acquired a new position in Apollo Global Management in the fourth quarter valued at $203,000. Finally, Wealthsource Partners LLC acquired a new position in Apollo Global Management in the third quarter valued at $251,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.

Several equities analysts have weighed in on the company. Citigroup raised Apollo Global Management from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, March 12th. Zacks Investment Research cut Apollo Global Management from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Credit Suisse Group raised their price objective on Apollo Global Management from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. ValuEngine upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $43.00 price objective on shares of Apollo Global Management in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Apollo Global Management has a consensus rating of “Buy” and an average price target of $36.50.

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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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