Apollo Global Management (NYSE:APO) Upgraded to Strong-Buy at HSBC

HSBC upgraded shares of Apollo Global Management (NYSE:APO) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

APO has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. UBS Group lifted their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a report on Friday, May 8th. The Goldman Sachs Group decreased their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada dropped their price target on shares of Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.15.

Apollo Global Management Stock Down 1.8%

NYSE:APO opened at $118.28 on Monday. The firm has a market capitalization of $68.19 billion, a P/E ratio of 75.34, a PEG ratio of 1.04 and a beta of 1.50. The company’s fifty day moving average price is $127.28 and its 200-day moving average price is $124.71. Apollo Global Management has a 1-year low of $99.56 and a 1-year high of $153.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm earned $1.82 EPS. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Apollo Global Management will post 8.23 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. Apollo Global Management’s payout ratio is currently 143.31%.

Insiders Place Their Bets

In related news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

A number of hedge funds have recently made changes to their positions in the company. Schnieders Capital Management LLC. acquired a new stake in shares of Apollo Global Management in the second quarter valued at approximately $7,954,000. Baird Financial Group Inc. increased its position in Apollo Global Management by 117.5% during the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock worth $2,287,000 after purchasing an additional 8,709 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Apollo Global Management by 4.8% during the second quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Apollo Global Management during the second quarter worth about $722,000. Finally, Northern Right Capital Management L.P. boosted its holdings in Apollo Global Management by 1.5% in the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock valued at $24,542,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.