Apollo Global Management (NYSE:APO) Stock Rating Lowered by JMP Securities

JMP Securities cut shares of Apollo Global Management (NYSE:APO) from an outperform rating to a market perform rating in a research note published on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $155.00 target price on the financial services provider’s stock, up from their prior target price of $152.00.

Several other analysts also recently commented on the company. UBS Group downgraded Apollo Global Management from a buy rating to a neutral rating and lowered their price objective for the stock from $46.00 to $44.00 in a research note on Thursday, December 12th. Barclays reaffirmed a buy rating and issued a $44.00 target price on shares of Apollo Global Management in a report on Sunday, October 13th. Credit Suisse Group reaffirmed an outperform rating and issued a $54.00 target price (up from $45.00) on shares of Apollo Global Management in a report on Tuesday, November 5th. ValuEngine lowered Apollo Global Management from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co upped their target price on Apollo Global Management from $50.00 to $53.00 and gave the company an overweight rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $55.15.

Shares of Apollo Global Management stock opened at $49.08 on Monday. The company has a market cap of $10.86 billion, a PE ratio of -233.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. Apollo Global Management has a 52 week low of $26.94 and a 52 week high of $50.35. The business has a 50 day moving average price of $46.68 and a 200-day moving average price of $40.24. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.12.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.03). The firm had revenue of $401.38 million during the quarter, compared to analysts’ expectations of $404.24 million. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, research analysts anticipate that Apollo Global Management will post 2.33 EPS for the current year.

In other news, major shareholder Tiger Global Management Llc sold 3,750,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $49.06, for a total value of $183,975,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 46.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in APO. Invesco Ltd. grew its holdings in Apollo Global Management by 755.9% during the second quarter. Invesco Ltd. now owns 1,708,708 shares of the financial services provider’s stock valued at $58,609,000 after purchasing an additional 1,509,059 shares during the period. Morgan Stanley grew its holdings in Apollo Global Management by 19.6% during the second quarter. Morgan Stanley now owns 8,166,139 shares of the financial services provider’s stock valued at $280,099,000 after purchasing an additional 1,338,115 shares during the period. GVO Asset Management Ltd bought a new position in Apollo Global Management during the third quarter valued at $22,877,000. Tibra Equities Europe Ltd bought a new position in Apollo Global Management during the third quarter valued at $21,554,000. Finally, Nuveen Asset Management LLC bought a new position in Apollo Global Management during the second quarter valued at $19,021,000. 68.76% of the stock is owned by institutional investors and hedge funds.

About Apollo Global Management

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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