Apollo Global Management Inc. $APO Shares Bought by Farmers & Merchants Investments Inc.

Key Points

• Farmers & Merchants Investments increased its Apollo Global Management stake by 7,405% in the third quarter, ending with 22,365 shares valued at approximately $2.6 million. Institutional investors and hedge funds collectively own 77.06% of APO.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and six Holds. Apollo has a “Moderate Buy” consensus rating and an average price target of $151.90.
• APO shares opened at $112.73, while the company’s latest quarterly results missed estimates for both earnings and revenue. Apollo also declared a $0.5625 quarterly dividend, equivalent to a 2.0% annual yield.

Farmers & Merchants Investments Inc. raised its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 7,405.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,365 shares of the financial services provider's stock after purchasing an additional 22,067 shares during the period. Farmers & Merchants Investments Inc.'s holdings in Apollo Global Management were worth $2,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nykredit A S acquired a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $14,515,000. Louisiana State Employees Retirement System bought a new position in shares of Apollo Global Management during the 1st quarter valued at about $2,641,000. Saudi Central Bank raised its holdings in shares of Apollo Global Management by 82.6% in the 2nd quarter. Saudi Central Bank now owns 29,346 shares of the financial services provider's stock worth $3,472,000 after purchasing an additional 13,278 shares in the last quarter. Cooper Financial Group boosted its holdings 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 worth $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 in the second quarter worth approximately $172,290,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APO has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of Apollo Global Management from $126.00 to $134.00 and gave the stock a "market perform" rating in a research report on Monday, August 10th. Morgan Stanley lowered their price objective on shares of Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. Piper Sandler decreased their target price on shares of Apollo Global Management from $159.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. TD Cowen cut their price objective on Apollo Global Management from $159.00 to $154.00 and set a "buy" rating for the company in a report on Monday, October 12th. Finally, Rothschild & Co Redburn raised their price target on shares of Apollo Global Management from $171.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Apollo Global Management has an average rating of "Moderate Buy" and an average price target of $151.90.

Apollo Global Management Stock Down 1.8%

Shares of APO stock opened at $112.73 on Friday. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29. 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 has a market cap of $66.57 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.58. The stock has a 50 day moving average of $124.10 and a 200-day moving average of $125.23.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results 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). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company earned $1.92 EPS. On average, equities analysts predict that Apollo Global Management Inc. will post 7.96 EPS for the current year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were paid a $0.5625 dividend. 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 payout ratio is 82.42%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is currently owned by company insiders.

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.