SBI Securities Co. Ltd. raised its stake in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) by 1,330.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,257 shares of the financial services provider’s stock after buying an additional 8,610 shares during the period. SBI Securities Co. Ltd.’s holdings in Apollo Global Management were worth $1,074,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in APO. Legal & General Group Plc acquired a new position in shares of Apollo Global Management during the 2nd quarter valued at about $459,987,000. Bank of New York Mellon Corp bought a new position in shares of Apollo Global Management in the 2nd quarter valued at approximately $336,644,000. Temasek Holdings Private Ltd lifted its holdings in Apollo Global Management by 214.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after purchasing an additional 1,614,813 shares during the last quarter. Deutsche Bank AG acquired a new stake in Apollo Global Management in the 2nd quarter worth approximately $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Apollo Global Management during the second quarter worth approximately $136,528,000. Institutional investors and hedge funds own 77.06% of the company’s stock.
Insider Buying and Selling at Apollo Global Management
In other news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.
Apollo Global Management Stock Down 1.8%
APO stock opened at $112.73 on Friday. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The company has a market cap of $66.57 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.58. The business’s 50-day simple moving average is $124.10 and its 200 day simple moving average is $125.23. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.
Apollo Global Management (NYSE:APO – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter in the prior year, the firm earned $1.92 earnings per share. On average, research analysts anticipate that Apollo Global Management Inc. will post 7.96 earnings per share for the current year.
Apollo Global Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on APO. Evercore lifted their target price on shares of Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. Wells Fargo & Company began coverage on shares of Apollo Global Management in a report on Friday, October 2nd. They set an “equal weight” rating and a $127.00 price target for the company. BMO Capital Markets raised their price target on Apollo Global Management from $126.00 to $134.00 and gave the company a “market perform” rating in a research report on Monday, August 10th. HSBC initiated coverage on Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, Jefferies Financial Group dropped their price objective on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a research note on Tuesday, October 6th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.90.
View Our Latest Stock Analysis on APO
About Apollo Global Management
Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.
Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.
The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.
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