Cumberland Partners Ltd Buys New Position in Apollo Global Management Inc. (NYSE:APO)

Cumberland Partners Ltd bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 23,000 shares of the financial services provider’s stock, valued at approximately $3,150,000.

Several other hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares during the last quarter. Northern Trust Corp boosted its position in Apollo Global Management by 50.0% in the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after purchasing an additional 1,460,689 shares during the last quarter. Bessemer Group Inc. boosted its position in Apollo Global Management by 200,666.6% in the fourth quarter. Bessemer Group Inc. now owns 1,226,684 shares of the financial services provider’s stock worth $202,598,000 after purchasing an additional 1,226,073 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Apollo Global Management by 71.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider’s stock worth $429,405,000 after purchasing an additional 1,082,825 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in Apollo Global Management by 3,257.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,067,659 shares of the financial services provider’s stock worth $176,335,000 after purchasing an additional 1,035,856 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $138.30 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. Apollo Global Management Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The firm has a market cap of $79.04 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.64 and a beta of 1.59. The business’s fifty day moving average is $140.63 and its 200 day moving average is $142.39.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The business’s revenue for the quarter was down 21.2% compared to the same quarter last year. Research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on APO. Cowen reissued a “buy” rating on shares of Apollo Global Management in a research report on Monday, May 5th. Evercore ISI boosted their price objective on Apollo Global Management from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. TD Cowen cut their price objective on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Bank of America boosted their price objective on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Finally, Morgan Stanley cut their price objective on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.00.

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.