Apollo Global Management (NYSE:APO) Rating Lowered to Neutral at Citigroup

Apollo Global Management (NYSE:APO) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday, MarketBeat.com reports.

Several other brokerages have also recently weighed in on APO. BMO Capital Markets cut shares of Apollo Global Management from an “outperform” rating to a “market perform” rating and set a $43.00 price objective on the stock. in a research note on Thursday, May 14th. They noted that the move was a valuation call. Cfra increased their price objective on shares of Apollo Global Management from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Morgan Stanley increased their price objective on shares of Apollo Global Management from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Bank of America reiterated a “neutral” rating and issued a $43.00 price objective (up previously from $38.00) on shares of Apollo Global Management in a research note on Monday, May 4th. Finally, TheStreet cut shares of Apollo Global Management from a “b-” rating to a “c-” rating in a research note on Friday, May 1st. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $53.38.

APO opened at $52.07 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $12.01 billion, a P/E ratio of -36.93, a P/E/G ratio of 1.68 and a beta of 1.64. The company’s 50-day simple moving average is $43.79 and its two-hundred day simple moving average is $43.16. Apollo Global Management has a 52-week low of $19.46 and a 52-week high of $54.85.

Apollo Global Management (NYSE:APO) last posted its earnings results on Friday, May 1st. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.11). The company had revenue of $433.57 million for the quarter, compared to the consensus estimate of $412.13 million. Apollo Global Management had a net margin of 31.68% and a return on equity of 40.34%. During the same quarter in the prior year, the company posted $0.67 EPS. Research analysts forecast that Apollo Global Management will post 1.86 EPS for the current fiscal year.

In other Apollo Global Management news, COO Anthony Civale sold 4,121 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $48.17, for a total transaction of $198,508.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc J. Rowan sold 486,519 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $44.76, for a total transaction of $21,776,590.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,620,880 shares of company stock worth $69,554,073. 46.90% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in Apollo Global Management by 91.8% during the 4th quarter. Parallel Advisors LLC now owns 537 shares of the financial services provider’s stock valued at $26,000 after buying an additional 257 shares in the last quarter. Private Advisor Group LLC grew its holdings in Apollo Global Management by 3.6% during the 4th quarter. Private Advisor Group LLC now owns 11,930 shares of the financial services provider’s stock valued at $569,000 after buying an additional 418 shares in the last quarter. Coastal Investment Advisors Inc. grew its holdings in Apollo Global Management by 102.7% during the 4th quarter. Coastal Investment Advisors Inc. now owns 975 shares of the financial services provider’s stock valued at $43,000 after buying an additional 494 shares in the last quarter. Coastal Bridge Advisors LLC grew its holdings in Apollo Global Management by 0.9% during the 1st quarter. Coastal Bridge Advisors LLC now owns 59,721 shares of the financial services provider’s stock valued at $2,001,000 after buying an additional 532 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Apollo Global Management by 32.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,212 shares of the financial services provider’s stock valued at $74,000 after buying an additional 539 shares in the last quarter. 70.28% 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.

Featured Story: Learning About the VIX – Volatility Index

Analyst Recommendations for Apollo Global Management (NYSE:APO)

Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.