Traders Purchase Large Volume of Put Options on Apollo Global Management (APO)
Apollo Global Management, LLC (NYSE:APO) was the target of unusually large options trading on Monday. Stock traders acquired 3,963 put options on the company. This represents an increase of approximately 1,154% compared to the typical daily volume of 316 put options.
Shares of Apollo Global Management (APO) opened at $30.29 on Thursday. Apollo Global Management has a 12-month low of $18.90 and a 12-month high of $33.37. The firm has a market capitalization of $6,009.42, a PE ratio of 9.32, a P/E/G ratio of 1.04 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.74 and a current ratio of 1.74.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.51. Apollo Global Management had a return on equity of 64.11% and a net margin of 24.82%. The company had revenue of $645.20 million for the quarter, compared to the consensus estimate of $467.72 million. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. equities analysts expect that Apollo Global Management will post 2.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Tuesday, November 21st were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Monday, November 20th. Apollo Global Management’s payout ratio is currently 50.98%.
In other Apollo Global Management news, major shareholder Tiger Global Management Llc bought 43,714 shares of Apollo Global Management stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $29.18 per share, for a total transaction of $1,275,574.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.11% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Stelac Advisory Services LLC bought a new stake in Apollo Global Management during the third quarter valued at about $117,000. Penserra Capital Management LLC boosted its holdings in Apollo Global Management by 10.0% in the second quarter. Penserra Capital Management LLC now owns 6,479 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 589 shares in the last quarter. Cowen Prime Services LLC boosted its holdings in Apollo Global Management by 400.0% in the second quarter. Cowen Prime Services LLC now owns 7,500 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 6,000 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Apollo Global Management in the second quarter worth about $211,000. Finally, First Midwest Bank Trust Division acquired a new stake in Apollo Global Management in the third quarter worth about $232,000. 72.58% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the company. Zacks Investment Research lowered Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Jefferies Group increased their target price on Apollo Global Management from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Credit Suisse Group increased their target price on Apollo Global Management from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Citigroup increased their target price on Apollo Global Management from $35.50 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $39.00 target price (up previously from $34.00) on shares of Apollo Global Management in a research note on Thursday, November 2nd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Apollo Global Management presently has an average rating of “Buy” and an average target price of $33.38.
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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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