44,424 Apollo Global Management Inc. $APO Shares Bought by Cooper Financial Group

Key Points

• Cooper Financial Group increased its Apollo Global Management stake by 1,194.5% in the third quarter, buying 44,424 additional shares to own 48,143 shares valued at approximately $5.6 million.
• Institutional investors own 77.06% of Apollo, with Legal & General, Bank of New York Mellon, Boston Partners, Temasek and Deutsche Bank also making significant purchases or increasing their positions.
• Apollo shares recently traded at $115.53, while analysts maintain a “Moderate Buy” consensus and an average price target of $150.36; the company also pays a quarterly dividend of $0.5625, yielding about 1.9% annually.

Cooper Financial Group grew its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1,194.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,143 shares of the financial services provider's stock after purchasing an additional 44,424 shares during the period. Cooper Financial Group's holdings in Apollo Global Management were worth $5,587,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Legal & General Group Plc bought a new position in Apollo Global Management in the second quarter valued at $459,987,000. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management in the 2nd quarter valued at $336,644,000. Boston Partners lifted its position in Apollo Global Management by 106.7% during the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock worth $474,384,000 after buying an additional 1,692,532 shares in the last quarter. Temasek Holdings Private Ltd lifted its position in Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after buying an additional 1,614,813 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Apollo Global Management during the 2nd quarter worth about $172,290,000. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Shares of APO stock traded down $0.42 on Wednesday, reaching $115.53. The stock had a trading volume of 2,675,948 shares, compared to its average volume of 4,261,069. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The firm's 50-day moving average is $128.60 and its two-hundred day moving average is $124.95. The firm has a market capitalization of $68.23 billion, a price-to-earnings ratio of 42.32, a P/E/G ratio of 1.01 and a beta of 1.58. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results 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 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 quarter last year, the business posted $1.92 earnings per share. On average, research analysts expect that Apollo Global Management Inc. will post 8.04 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were given a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Insider Activity 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 transaction of $422,520.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on APO shares. Weiss Ratings raised Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. BMO Capital Markets reduced their price target on Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating for the company in a research report on Monday, July 13th. Keefe, Bruyette & Woods upgraded Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. Barclays raised their price target on Apollo Global Management from $132.00 to $157.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $150.36.

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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