Zacks Investment Research cut shares of Apollo Global Management LLC Class A (NYSE:APO) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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 analysts also recently issued reports on the company. ValuEngine downgraded Apollo Global Management LLC Class A from a buy rating to a hold rating in a research report on Tuesday, September 4th. Morgan Stanley set a $42.00 price target on Apollo Global Management LLC Class A and gave the stock a buy rating in a research report on Tuesday, August 14th. Finally, Oppenheimer restated a buy rating on shares of Apollo Global Management LLC Class A in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $39.10.

NYSE APO opened at $34.08 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The company has a market cap of $6.89 billion, a PE ratio of 9.55, a PEG ratio of 2.38 and a beta of 1.21. Apollo Global Management LLC Class A has a one year low of $28.00 and a one year high of $37.35.

Apollo Global Management LLC Class A (NYSE:APO) last posted its earnings results on Thursday, August 2nd. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.27). The firm had revenue of $449.71 million for the quarter, compared to the consensus estimate of $608.66 million. Apollo Global Management LLC Class A had a net margin of 19.59% and a return on equity of 48.19%. During the same quarter in the prior year, the company posted $0.46 earnings per share. sell-side analysts expect that Apollo Global Management LLC Class A will post 1.44 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were given a $0.43 dividend. The ex-dividend date was Thursday, August 16th. This is an increase from Apollo Global Management LLC Class A’s previous quarterly dividend of $0.38. This represents a $1.72 dividend on an annualized basis and a yield of 5.05%. Apollo Global Management LLC Class A’s dividend payout ratio (DPR) is currently 48.18%.

In related news, insider Joshua Harris sold 30,381 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $35.28, for a total value of $1,071,841.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin Kelly sold 11,500 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $35.66, for a total value of $410,090.00. The disclosure for this sale can be found here. 4.11% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of APO. SG Americas Securities LLC purchased a new position in shares of Apollo Global Management LLC Class A during the first quarter valued at $937,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Apollo Global Management LLC Class A by 32.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 330,000 shares of the financial services provider’s stock valued at $9,775,000 after buying an additional 80,000 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Apollo Global Management LLC Class A by 1.5% during the first quarter. Neuberger Berman Group LLC now owns 179,140 shares of the financial services provider’s stock valued at $5,306,000 after buying an additional 2,620 shares during the period. Burney Co. purchased a new position in shares of Apollo Global Management LLC Class A during the first quarter valued at $2,889,000. Finally, WESPAC Advisors LLC grew its stake in Apollo Global Management LLC Class A by 4.8% in the first quarter. WESPAC Advisors LLC now owns 47,337 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 2,160 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.

Apollo Global Management LLC Class A Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Analyst Recommendations for Apollo Global Management LLC Class A (NYSE:APO)

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