Apollo Global Management (NYSE:APO – Get Rating) posted its quarterly earnings results on Thursday. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04, Fidelity Earnings reports. Apollo Global Management had a negative net margin of 44.62% and a positive return on equity of 36.22%. During the same period last year, the firm earned $1.14 earnings per share.
Apollo Global Management Stock Down 0.8 %
Shares of Apollo Global Management stock traded down $0.46 on Friday, hitting $57.53. The company had a trading volume of 1,764,617 shares, compared to its average volume of 1,927,094. The stock has a 50-day moving average of $53.20 and a 200-day moving average of $58.05. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.71 and a quick ratio of 0.71. Apollo Global Management has a twelve month low of $45.97 and a twelve month high of $81.07. The firm has a market capitalization of $33.05 billion, a P/E ratio of -18.50, a P/E/G ratio of 0.68 and a beta of 1.65.
Apollo Global Management Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Thursday, August 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. Apollo Global Management’s payout ratio is -51.45%.
Insider Activity at Apollo Global Management
Hedge Funds Weigh In On Apollo Global Management
Institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in shares of Apollo Global Management during the first quarter worth approximately $1,211,000. EP Wealth Advisors LLC acquired a new position in Apollo Global Management in the 1st quarter valued at $268,000. Toroso Investments LLC grew its holdings in Apollo Global Management by 67.4% in the 1st quarter. Toroso Investments LLC now owns 15,352 shares of the financial services provider’s stock valued at $952,000 after buying an additional 6,181 shares in the last quarter. Golden State Equity Partners bought a new position in Apollo Global Management during the 1st quarter worth $209,000. Finally, Virtu Financial LLC acquired a new stake in Apollo Global Management in the 1st quarter worth about $593,000. 61.48% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently commented on APO shares. Deutsche Bank Aktiengesellschaft raised their target price on Apollo Global Management from $88.00 to $91.00 in a research report on Friday. Oppenheimer raised Apollo Global Management from a “market perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Wednesday, April 13th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. Morgan Stanley lowered shares of Apollo Global Management from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $81.00 to $60.00 in a report on Tuesday, July 19th. Finally, Citigroup reduced their target price on shares of Apollo Global Management from $105.00 to $87.50 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of “Hold” and an average target price of $79.44.
About Apollo Global Management
Apollo Global Management, Inc is a private equity firm specializing investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
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