Apollo Global Management Inc. $APO Position Lifted by Integrated Advisors Network LLC

Key Points

• Integrated Advisors Network LLC increased its Apollo Global Management stake by 175.5% in the third quarter, bringing its holdings to 33,982 shares valued at approximately $3.8 million. Institutional investors collectively own 77.06% of APO.
• Apollo CFO Martin Kelly sold 3,000 shares for about $422,520, reducing his position by 0.75%; company insiders own 8.30% of the stock.
• Apollo reported quarterly EPS of $2.11, below the $2.16 analyst consensus, while revenue of $5.57 billion also missed estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $151.90, and the company pays a quarterly dividend of $0.5625.

Integrated Advisors Network LLC lifted its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 175.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,982 shares of the financial services provider's stock after purchasing an additional 21,647 shares during the period. Integrated Advisors Network LLC's holdings in Apollo Global Management were worth $3,803,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Apollo Global Management by 4.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock valued at $669,372,000 after purchasing an additional 234,517 shares during the last quarter. Legal & General Group Plc purchased a new position in Apollo Global Management during the second quarter worth approximately $459,987,000. Bank of New York Mellon Corp boosted its stake in Apollo Global Management by 7.0% during the first quarter. Bank of New York Mellon Corp now owns 2,901,110 shares of the financial services provider's stock worth $323,242,000 after buying an additional 188,668 shares during the last quarter. Temasek Holdings Private Ltd boosted its stake in Apollo Global Management by 214.4% during the first 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 during the last quarter. Finally, Curated Wealth Partners LLC boosted its stake in Apollo Global Management by 91.8% during the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider's stock worth $255,887,000 after buying an additional 1,055,818 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.30% of the company's stock.

Apollo Global Management Stock Up 0.4%

Shares of NYSE:APO opened at $111.36 on Wednesday. The company has a market capitalization of $65.76 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 0.99 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. The business has a 50-day moving average price of $125.77 and a 200 day moving average price of $125.23. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS 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 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 earned $1.92 EPS. Sell-side analysts expect that Apollo Global Management Inc. will post 7.99 EPS for the current year.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management's payout ratio is 82.42%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on APO. JPMorgan Chase & Co. upped their target price on Apollo Global Management from $150.00 to $154.00 and gave the company an "overweight" rating in a report on Wednesday, September 2nd. Evercore lifted their price target on Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. Royal Bank Of Canada lifted their price target on Apollo Global Management from $137.00 to $146.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. Wells Fargo & Company began coverage on shares of Apollo Global Management in a research report on Friday, October 2nd. They set an "equal weight" rating and a $127.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised shares of Apollo Global Management to a "hold" rating in a report on Monday, July 20th. Fourteen research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.90.

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.

Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO - Free Report).

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.