9,309 Apollo Global Management Inc. $APO Shares Acquired by Brown Lisle Cummings Inc.

Key Points

• Brown Lisle Cummings Inc. increased its Apollo Global Management stake by 9,309 shares during the third quarter, bringing its total holdings to 9,325 shares valued at approximately $1.08 million.
• Institutional investors own 77.06% of Apollo’s stock, while shares recently traded at $110.87, well below the 52-week high of $153.29.
• Apollo reported quarterly EPS of $2.11, missing analysts’ $2.16 estimate, but analysts maintain a consensus “Moderate Buy” rating with an average price target of $152.60. The company also pays a quarterly dividend of $0.5625, equivalent to a 2.0% annual yield.

Brown Lisle Cummings Inc. grew its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 58,181.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,325 shares of the financial services provider's stock after purchasing an additional 9,309 shares during the quarter. Brown Lisle Cummings Inc.'s holdings in Apollo Global Management were worth $1,082,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of APO. MBM Wealth Consultants LLC acquired a new position in shares of Apollo Global Management during the 1st quarter worth about $29,000. Steigerwald Gordon & Koch Inc. boosted its holdings 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 worth $29,000 after buying an additional 213 shares during the last quarter. Continuum Advisory LLC acquired a new stake in Apollo Global Management in the 2nd quarter worth about $30,000. Keating Financial Advisory Services Inc. acquired a new stake in Apollo Global Management in the 2nd quarter worth about $31,000. Finally, Osbon Capital Management LLC purchased a new stake in Apollo Global Management during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Down 0.9%

Shares of NYSE:APO opened at $110.87 on Friday. 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 business has a fifty day moving average of $126.76 and a two-hundred day moving average of $125.12. The stock has a market cap of $65.47 billion, a P/E ratio of 40.61, a PEG ratio of 0.98 and a beta of 1.58. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week 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 analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the business earned $1.92 earnings per share. On average, research analysts expect that Apollo Global Management Inc. will post 8.00 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were issued a $0.5625 dividend. 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 is currently 82.42%.

Analyst Ratings Changes

APO has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on Apollo Global Management in a report on Friday, October 2nd. They set an "equal weight" rating and a $127.00 target price for the company. The Goldman Sachs Group decreased their target price on Apollo Global Management from $154.00 to $148.00 and set a "buy" rating on the stock in a research report on Friday, October 2nd. Barclays lifted their price target on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Jefferies Financial Group lowered their price target on 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. Finally, Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $152.60.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction 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. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.30% of the company's stock.

About Apollo Global Management

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.