Apollo Global Management Inc. $APO Stake Increased by Sowell Financial Services LLC

Sowell Financial Services LLC grew its stake in Apollo Global Management Inc. (NYSE:APO) by 2,040.9% in the third quarter, Holdings Channel reports. The fund owned 77,009 shares of the financial services provider’s stock after purchasing an additional 73,412 shares during the period. Sowell Financial Services LLC’s holdings in Apollo Global Management were worth $8,938,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. 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 acquired a new stake in Apollo Global Management during the second quarter worth about $336,644,000. Temasek Holdings Private Ltd increased its position in 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 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 during the second quarter worth about $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Apollo Global Management during the second quarter worth about $136,528,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 4.5%

Shares of NYSE:APO opened at $118.58 on Friday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The company’s 50 day moving average is $122.59 and its two-hundred day moving average is $123.71. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market cap of $70.03 billion, a PE ratio of 43.44, a P/E/G ratio of 1.05 and a beta of 1.58.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data 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 analysts’ expectations of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. During the same period last year, the firm posted $1.92 earnings per share. Equities analysts predict that Apollo Global Management Inc. will post 7.96 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management’s payout ratio is 82.42%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Rothschild & Co Redburn lifted their price target on shares of Apollo Global Management from $171.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Bank of America reduced their price target on shares of Apollo Global Management from $163.00 to $161.00 in a research report on Monday, October 5th. Piper Sandler decreased their price objective on Apollo Global Management from $159.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, Royal Bank Of Canada increased their price objective on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.40.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.30% of the stock is owned by company insiders.

Apollo Global Management Profile

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.