Apollo Global Management, LLC (APO) Upgraded to Buy at Zacks Investment Research

Apollo Global Management, LLC (NYSE:APO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $34.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.28% from the company’s previous close.

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. “

Several other analysts have also recently commented on the stock. Keefe, Bruyette & Woods restated a “buy” rating and set a $33.00 price objective on shares of Apollo Global Management in a research note on Friday, July 14th. BidaskClub cut shares of Apollo Global Management from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Morgan Stanley restated an “equal weight” rating and set a $26.00 price objective (up from $25.00) on shares of Apollo Global Management in a research note on Monday, July 10th. Jefferies Group LLC restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG lifted their price objective on shares of Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $29.59.

Apollo Global Management (NYSE APO) traded up 0.88% on Tuesday, reaching $30.83. 486,896 shares of the company’s stock traded hands. Apollo Global Management has a 12-month low of $17.38 and a 12-month high of $31.69. The stock has a 50 day moving average price of $29.68 and a 200 day moving average price of $27.70. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 12.08 and a beta of 1.20.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The business had revenue of $432.87 million for the quarter, compared to analyst estimates of $455.29 million. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was down 34.5% on a year-over-year basis. Analysts forecast that Apollo Global Management will post $2.48 EPS for the current year.

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In other news, Director A B. Krongard bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $29.28 per share, for a total transaction of $29,280.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John J. Suydam sold 46,617 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,398,976.17. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,399,918 shares of company stock valued at $39,210,819. Company insiders own 4.11% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of APO. Ameriprise Financial Inc. acquired a new position in shares of Apollo Global Management in the 1st quarter valued at $234,000. FMR LLC lifted its stake in shares of Apollo Global Management by 2.8% in the 1st quarter. FMR LLC now owns 8,216,804 shares of the financial services provider’s stock valued at $199,833,000 after purchasing an additional 223,452 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Apollo Global Management by 6.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 41,252 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 2,350 shares during the period. Legal & General Group Plc lifted its stake in shares of Apollo Global Management by 6.7% in the 1st quarter. Legal & General Group Plc now owns 439,743 shares of the financial services provider’s stock valued at $10,688,000 after purchasing an additional 27,619 shares during the period. Finally, Global X Management Co. LLC acquired a new position in shares of Apollo Global Management in the 1st quarter valued at $161,000. Hedge funds and other institutional investors own 73.58% of the company’s stock.

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.

Analyst Recommendations for Apollo Global Management (NYSE:APO)

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