Apollo Global Management Inc. $APO Position Lifted by Manchester Capital Management LLC

Manchester Capital Management LLC raised its position in shares of Apollo Global Management Inc. (NYSE:APO) by 381,675.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 217,612 shares of the financial services provider’s stock after acquiring an additional 217,555 shares during the period. Apollo Global Management makes up 3.4% of Manchester Capital Management LLC’s portfolio, making the stock its 5th biggest position. Manchester Capital Management LLC’s holdings in Apollo Global Management were worth $25,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in Apollo Global Management during the 2nd quarter worth approximately $14,515,000. Louisiana State Employees Retirement System purchased a new position in Apollo Global Management in the first quarter valued at approximately $2,641,000. Saudi Central Bank lifted its position in Apollo Global Management by 82.6% during the second quarter. Saudi Central Bank now owns 29,346 shares of the financial services provider’s stock valued at $3,472,000 after buying an additional 13,278 shares in the last quarter. Cooper Financial Group lifted its position in Apollo Global Management by 1,194.5% during the third quarter. Cooper Financial Group now owns 48,143 shares of the financial services provider’s stock valued at $5,587,000 after buying an additional 44,424 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in Apollo Global Management during the second quarter valued at approximately $172,290,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on APO shares. BMO Capital Markets boosted their price objective on shares of Apollo Global Management from $126.00 to $134.00 and gave the stock a “market perform” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Jefferies Financial Group reduced their target price on shares of Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Finally, HSBC began coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $151.90.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, 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 available at this hyperlink. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $112.73 on Friday. The company has a market cap of $66.57 billion, a P/E ratio of 41.29, a PEG ratio of 1.06 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 Inc. has a one year low of $99.56 and a one year high of $153.29. The business’s 50-day simple moving average is $124.10 and its 200 day simple moving average is $125.23.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion during 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 quarter in the prior year, the company earned $1.92 EPS. On average, sell-side analysts forecast that Apollo Global Management Inc. will post 7.97 earnings per share for the current fiscal 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 paid a dividend of $0.5625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.0%. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Apollo Global Management Company 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.