Morgan Stanley upgraded shares of Apollo Global Management (NYSE:APO) from an equal weight rating to an overweight rating in a report published on Wednesday morning, Marketbeat.com reports. Morgan Stanley currently has $42.00 price target on the financial services provider’s stock.
APO has been the topic of a number of other reports. Zacks Investment Research lowered shares of Apollo Global Management from a buy rating to a hold rating in a report on Wednesday, November 8th. Citigroup raised their price objective on shares of Apollo Global Management from $35.50 to $38.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Keefe, Bruyette & Woods restated a buy rating and set a $35.00 price objective on shares of Apollo Global Management in a report on Thursday, October 12th. ValuEngine upgraded shares of Apollo Global Management from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Finally, Jefferies Group restated a buy rating and set a $34.00 price objective on shares of Apollo Global Management in a report on Tuesday, September 26th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Apollo Global Management currently has an average rating of Buy and a consensus target price of $34.46.
Shares of Apollo Global Management (NYSE APO) traded up $0.17 during midday trading on Wednesday, hitting $34.48. 360,546 shares of the stock were exchanged, compared to its average volume of 740,144. The company has a market capitalization of $6,673.26, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.16 and a beta of 1.23. Apollo Global Management has a 52 week low of $20.38 and a 52 week high of $35.01. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.51. The company had revenue of $645.20 million for the quarter, compared to analysts’ expectations of $467.72 million. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. analysts forecast that Apollo Global Management will post 2.96 EPS for the current fiscal year.
In other Apollo Global Management news, major shareholder Tiger Global Management Llc purchased 43,714 shares of the stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $29.18 per share, for a total transaction of $1,275,574.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.11% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management in the 2nd quarter valued at $240,000. WESPAC Advisors LLC increased its stake in shares of Apollo Global Management by 74.2% during the 2nd quarter. WESPAC Advisors LLC now owns 50,939 shares of the financial services provider’s stock worth $1,347,000 after purchasing an additional 21,691 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 during the last quarter. Renaissance Technologies LLC increased its stake in shares of Apollo Global Management by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 861,934 shares of the financial services provider’s stock worth $22,798,000 after purchasing an additional 194,102 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Apollo Global Management by 20.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 26,279 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 4,460 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.
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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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