Apollo Global Management Inc. $APO Stock: Forum Financial Management LP Grows Stake

Forum Financial Management LP increased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 37.5% during the 3rd quarter, Holdings Channel reports. The fund owned 28,769 shares of the financial services provider’s stock after buying an additional 7,846 shares during the quarter. Forum Financial Management LP’s holdings in Apollo Global Management were worth $3,162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GM Advisory Group LLC lifted its holdings in shares of Apollo Global Management by 0.9% during the 1st quarter. GM Advisory Group LLC now owns 12,015 shares of the financial services provider’s stock valued at $1,339,000 after purchasing an additional 108 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Apollo Global Management by 0.6% in the fourth quarter. Rehmann Capital Advisory Group now owns 17,392 shares of the financial services provider’s stock worth $2,518,000 after purchasing an additional 109 shares in the last quarter. Wealth Preservation Advisors LLC boosted its stake in shares of Apollo Global Management by 6.6% during the 4th quarter. Wealth Preservation Advisors LLC now owns 1,848 shares of the financial services provider’s stock worth $268,000 after buying an additional 114 shares during the last quarter. Pinnacle Bancorp Inc. boosted its position in Apollo Global Management by 14.5% during the first quarter. Pinnacle Bancorp Inc. now owns 924 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 117 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Apollo Global Management by 3.9% in the 1st quarter. International Assets Investment Management LLC now owns 3,167 shares of the financial services provider’s stock valued at $349,000 after buying an additional 119 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $110.87 on Friday. The firm’s fifty day moving average is $126.76 and its 200-day moving average is $125.12. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The firm has a market cap of $65.47 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 0.99 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). The company had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.92 EPS. Sell-side analysts predict that Apollo Global Management Inc. will post 8.00 earnings per share for the current year.

Apollo Global Management Announces Dividend

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 2.0%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on APO shares. Jefferies Financial Group reduced their price target on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating for the company in a report on Tuesday, October 6th. TD Cowen lowered their price target on shares of Apollo Global Management from $159.00 to $154.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. HSBC started coverage on Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. Finally, Bank of America dropped their price objective on Apollo Global Management from $163.00 to $161.00 in a research report on Monday, October 5th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.60.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.