Apollo Global Management (NYSE:APO) Announces Earnings Results, Misses Estimates By $0.02 EPS

Apollo Global Management (NYSE:APO - Get Free Report) issued its earnings results on Friday. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02), Briefing.com reports. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same period in the previous year, the company posted $1.72 EPS. The firm's revenue for the quarter was down 21.2% on a year-over-year basis.

Apollo Global Management Price Performance

Shares of APO traded down $2.40 during mid-day trading on Friday, reaching $135.49. The company had a trading volume of 4,382,021 shares, compared to its average volume of 3,844,382. The company's 50 day simple moving average is $133.18 and its 200 day simple moving average is $152.92. The company has a market capitalization of $77.29 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management has a 1-year low of $95.11 and a 1-year high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.51 per share. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.51%. Apollo Global Management's payout ratio is currently 25.31%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen reduced their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Piper Sandler dropped their target price on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Barclays lowered their price objective on shares of Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Raymond James started coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price target on the stock. Finally, Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.25.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the acquisition, the insider now directly owns 621,754 shares of the company's stock, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.50% of the company's stock.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

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