Apollo Global Management Inc. $APO Shares Bought by IFP Advisors Inc

Key Points

• IFP Advisors increased its Apollo Global Management stake by 446.8% in the third quarter, bringing its holdings to 71,906 shares valued at approximately $8.35 million. Institutional investors collectively own 77.06% of APO.
• Apollo reported quarterly earnings of $2.11 per share, below the $2.16 consensus estimate, while revenue of $5.57 billion also fell short of expectations. The company declared a quarterly dividend of $0.5625 per share, representing a 2.0% yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $152.60. CFO Martin Kelly separately sold 3,000 shares, while insiders own 8.30% of the company.

IFP Advisors Inc boosted its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 446.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 71,906 shares of the financial services provider's stock after purchasing an additional 58,756 shares during the period. IFP Advisors Inc's holdings in Apollo Global Management were worth $8,345,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at about $459,987,000. Bank of New York Mellon Corp purchased a new stake in shares of Apollo Global Management in the second quarter worth about $336,644,000. Temasek Holdings Private Ltd boosted its stake in shares of Apollo Global Management by 214.4% in 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. Deutsche Bank AG acquired a new stake in Apollo Global Management during the second quarter worth about $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Apollo Global Management during the second quarter worth about $136,528,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction 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 directly 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 document filed 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 Up 0.1%

Shares of Apollo Global Management stock opened at $110.87 on Monday. 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 Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The firm has a market capitalization of $65.47 billion, a PE ratio of 40.61, a P/E/G ratio of 0.98 and a beta of 1.58. The firm's 50-day moving average price is $126.76 and its 200 day moving average price is $125.22.

Apollo Global Management (NYSE:APO - Get Free Report) last posted 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 firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. During the same quarter last year, the firm posted $1.92 earnings per share. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8.00 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

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

Analyst Ratings Changes

APO has been the subject of several recent research reports. BMO Capital Markets lifted their price target on Apollo Global Management from $126.00 to $134.00 and gave the company a "market perform" rating in a research report on Monday, August 10th. Evercore boosted their price target on Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. Piper Sandler upped their price objective on Apollo Global Management from $156.00 to $159.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. HSBC started coverage on Apollo Global Management in a research report on Monday, July 20th. They issued a "buy" rating and a $145.00 price objective on the stock. Finally, Wall Street Zen raised shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.60.

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.

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