39,352 Shares in Apollo Global Management Inc. $APO Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. acquired 39,352 Apollo Global Management shares in the third quarter, valued at approximately $4.57 million. Institutional investors and hedge funds collectively own 77.06% of APO.
• Analyst sentiment remains positive, with 14 Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $152.60.
• Apollo reported quarterly EPS of $2.11, below the $2.16 estimate, while revenue of $5.57 billion also missed expectations. The company pays a quarterly dividend of $0.5625 per share, equivalent to a 2.0% annualized yield.

First Citizens Bank & Trust Co. purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 39,352 shares of the financial services provider's stock, valued at approximately $4,567,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Osbon Capital Management LLC acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $36,000. Steigerwald Gordon & Koch Inc. increased its position in Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 213 shares during the period. Continuum Advisory LLC acquired a new position in Apollo Global Management in the 2nd quarter valued at about $30,000. MBM Wealth Consultants LLC acquired a new position in Apollo Global Management in the 1st quarter valued at about $29,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Apollo Global Management during the 2nd quarter valued at approximately $31,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on APO shares. Jefferies Financial Group dropped their price objective on shares of 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. Barclays raised their target price on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. UBS Group lowered their target price on shares of Apollo Global Management from $172.00 to $163.00 and set a "buy" rating on the stock in a report on Tuesday. BMO Capital Markets lifted their target price on shares of Apollo Global Management from $126.00 to $134.00 and gave the company a "market perform" rating in a report on Monday, August 10th. Finally, HSBC started coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They set a "buy" rating and a $145.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and an average target price of $152.60.

Insider Buying and Selling at Apollo Global Management

In other 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 transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.30% of the company's stock.

Apollo Global Management Trading Down 2.4%

NYSE APO opened at $113.44 on Thursday. The company's 50 day moving average price is $127.41 and its 200 day moving average price is $125.19. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $66.99 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 1.03 and a beta of 1.58.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS 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 analysts' expectations 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 last year, the business earned $1.92 earnings per share. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8.00 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend 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 presently 82.42%.

Apollo Global Management Company 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.

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