Apollo Global Management, LLC (APO) Stock Rating Reaffirmed by Wells Fargo & Company
Apollo Global Management, LLC (NYSE:APO)‘s stock had its “outperform” rating restated by equities researchers at Wells Fargo & Company in a note issued to investors on Thursday. They presently have a $39.00 price objective on the financial services provider’s stock, up from their prior price objective of $34.00. Wells Fargo & Company’s price target suggests a potential upside of 24.64% from the stock’s current price.
Other analysts have also recently issued research reports about the company. BidaskClub raised Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. raised their price target on Apollo Global Management from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 14th. UBS Group AG (USA) reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Apollo Global Management in a report on Friday, August 4th. Deutsche Bank AG raised their price target on Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $30.00 price target (up previously from $28.00) on shares of Apollo Global Management in a report on Thursday, October 5th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $33.31.
Shares of Apollo Global Management (NYSE APO) traded up $0.65 during midday trading on Thursday, reaching $31.29. The company’s stock had a trading volume of 1,330,000 shares, compared to its average volume of 866,217. Apollo Global Management has a fifty-two week low of $17.65 and a fifty-two week high of $33.37. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.65. The company has a market cap of $6,067.54, a P/E ratio of 9.40, a P/E/G ratio of 1.20 and a beta of 1.23.
Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.51. Apollo Global Management had a return on equity of 66.61% and a net margin of 24.82%. The firm had revenue of $645.20 million for the quarter, compared to analysts’ expectations of $467.72 million. During the same quarter last year, the firm posted $0.58 EPS. The company’s revenue was up 31.1% compared to the same quarter last year. equities research analysts predict that Apollo Global Management will post 2.77 EPS for the current fiscal year.
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In related news, Director Robert K. Kraft purchased 30,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average cost of $29.90 per share, with a total value of $897,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Tiger Global Management Llc purchased 253,672 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was bought at an average cost of $28.48 per share, for a total transaction of $7,224,578.56. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 294,672 shares of company stock worth $8,444,659. 4.11% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in APO. Ameriprise Financial Inc. purchased a new position in Apollo Global Management in the 1st quarter worth approximately $234,000. Renaissance Technologies LLC increased its stake in Apollo Global Management by 4,255.2% in the 1st quarter. Renaissance Technologies LLC now owns 667,832 shares of the financial services provider’s stock worth $16,242,000 after purchasing an additional 652,498 shares during the period. DnB Asset Management AS increased its stake in Apollo Global Management by 33.2% in the 2nd quarter. DnB Asset Management AS now owns 144,900 shares of the financial services provider’s stock worth $3,838,000 after purchasing an additional 36,100 shares during the period. Koshinski Asset Management Inc. purchased a new position in Apollo Global Management in the 2nd quarter worth approximately $202,000. Finally, Bank of Montreal Can purchased a new position in Apollo Global Management in the 2nd quarter worth approximately $54,333,000. 73.52% of the stock is currently owned by institutional investors and hedge funds.
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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