Apollo Global Management (NYSE:APO) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Apollo Global Management (NYSE:APO) from a hold rating to a sell rating in a report issued on Thursday morning.

APO has been the subject of a number of other reports. Bank of America raised Apollo Global Management from a neutral rating to a buy rating and cut their price objective for the company from $124.00 to $123.00 in a report on Tuesday, August 6th. Evercore ISI lifted their price objective on Apollo Global Management from $128.00 to $130.00 and gave the company an outperform rating in a report on Monday, July 15th. Barclays cut their price objective on Apollo Global Management from $131.00 to $128.00 and set an overweight rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Apollo Global Management from $122.00 to $123.00 and gave the company an overweight rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Apollo Global Management from $130.00 to $129.00 and set a buy rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $125.00.

Apollo Global Management Stock Up 1.5 %

APO opened at $104.70 on Thursday. Apollo Global Management has a fifty-two week low of $77.11 and a fifty-two week high of $126.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. The firm’s fifty day moving average price is $117.06 and its two-hundred day moving average price is $112.89. The company has a market capitalization of $59.49 billion, a P/E ratio of 11.59, a P/E/G ratio of 0.95 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 17.97% and a net margin of 21.90%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, analysts anticipate that Apollo Global Management will post 7.09 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.77%. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Insiders Place Their Bets

In other news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Apollo Global Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Menard Financial Group LLC grew its position in shares of Apollo Global Management by 2.0% during the 2nd quarter. Menard Financial Group LLC now owns 5,690 shares of the financial services provider’s stock worth $672,000 after buying an additional 113 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Apollo Global Management by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,100,820 shares of the financial services provider’s stock worth $129,973,000 after buying an additional 91,506 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Apollo Global Management during the 2nd quarter worth about $62,972,000. Prime Capital Investment Advisors LLC grew its position in shares of Apollo Global Management by 38.9% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 14,706 shares of the financial services provider’s stock valued at $1,736,000 after purchasing an additional 4,121 shares during the period. Finally, Element Capital Management LLC acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at approximately $11,064,000. 77.06% of the stock is owned by institutional investors.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in 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.