Apollo Global Management (NYSE:APO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $37.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.46% 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. “
APO has been the subject of several other reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $35.00 target price on shares of Apollo Global Management in a report on Thursday, October 12th. Jefferies Group restated a “buy” rating and issued a $34.00 target price on shares of Apollo Global Management in a report on Tuesday, September 26th. Wells Fargo & Company restated an “outperform” rating and issued a $39.00 target price (up from $34.00) on shares of Apollo Global Management in a report on Thursday, November 2nd. Morgan Stanley restated an “equal weight” rating and issued a $30.00 target price (up from $28.00) on shares of Apollo Global Management in a report on Thursday, October 5th. Finally, Citigroup upped their target price on Apollo Global Management from $35.50 to $38.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $33.54.
Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.51. The company had revenue of $645.20 million during the quarter, compared to analysts’ expectations of $467.72 million. Apollo Global Management had a return on equity of 64.11% and a net margin of 24.82%. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. equities research analysts anticipate that Apollo Global Management will post 2.98 earnings per share for the current year.
In other Apollo Global Management news, major shareholder Tiger Global Management Llc purchased 43,714 shares of the stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average cost of $29.18 per share, for a total transaction of $1,275,574.52. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.11% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in APO. Bank of New York Mellon Corp acquired a new position in Apollo Global Management during the 2nd quarter worth about $240,000. BNP Paribas Arbitrage SA lifted its stake in Apollo Global Management by 4,656.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 65,491 shares of the financial services provider’s stock worth $1,732,000 after acquiring an additional 64,114 shares in the last quarter. WESPAC Advisors LLC lifted its stake in Apollo Global Management by 74.2% during the 2nd quarter. WESPAC Advisors LLC now owns 50,939 shares of the financial services provider’s stock worth $1,347,000 after acquiring an additional 21,691 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Apollo Global Management by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,394,866 shares of the financial services provider’s stock worth $163,950,000 after acquiring an additional 152,999 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Apollo Global Management by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 861,934 shares of the financial services provider’s stock worth $22,798,000 after acquiring an additional 194,102 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.
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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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