Hohimer Wealth Management LLC acquired a new position in Apollo Global Management Inc. (NYSE:APO – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,915 shares of the financial services provider’s stock, valued at approximately $816,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in APO. Legal & General Group Plc bought a new stake in shares of Apollo Global Management in the 2nd quarter worth $459,987,000. Bank of New York Mellon Corp bought a new position in shares of Apollo Global Management during the second quarter valued at $336,644,000. Temasek Holdings Private Ltd lifted its holdings in shares of Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Apollo Global Management during the second quarter valued at $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Apollo Global Management during the second quarter valued at $136,528,000. 77.06% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. TD Cowen reduced their price objective on Apollo Global Management from $154.00 to $136.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. UBS Group decreased their target price on Apollo Global Management from $163.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Wells Fargo & Company started coverage on Apollo Global Management in a report on Friday, October 2nd. They set an “equal weight” rating and a $127.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Apollo Global Management from $153.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, November 4th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $145.21.
Check Out Our Latest Stock Report on Apollo Global Management
Insider Transactions at Apollo Global Management
In other news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Whitney Chatterjee sold 7,339 shares of Apollo Global Management stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $117.83, for a total value of $864,754.37. Following the transaction, the insider directly owned 129,151 shares in the company, valued at approximately $15,217,862.33. The trade was a 5.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.30% of the company’s stock.
Apollo Global Management Price Performance
Shares of Apollo Global Management stock opened at $122.24 on Tuesday. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. The stock’s fifty day moving average is $120.53 and its 200 day moving average is $122.86. The stock has a market cap of $72.19 billion, a P/E ratio of -66.80, a P/E/G ratio of 1.13 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.41.
Apollo Global Management Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Wednesday, November 18th will be given a $0.5625 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. Apollo Global Management’s dividend payout ratio is presently -122.95%.
Apollo Global Management Company Profile
Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors.
The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform.
Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.
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