Apollo Global Management Inc. $APO Shares Purchased by Access Investment Management LLC

Key Points

• Access Investment Management increased its Apollo Global Management stake by 7.3% in the third quarter, bringing its holdings to 151,846 shares worth approximately $17.4 million. Institutional investors collectively own 77.06% of Apollo’s stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and six Hold ratings. Apollo has a consensus “Moderate Buy” rating and an average price target of $151.90.
• Apollo reported quarterly earnings of $2.11 per share, slightly below the $2.16 consensus estimate, while revenue of $5.57 billion also missed expectations. The company pays a quarterly dividend of $0.5625 per share, equal to a 2.0% annual yield.

Access Investment Management LLC boosted its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,846 shares of the financial services provider's stock after buying an additional 10,284 shares during the period. Apollo Global Management makes up about 4.5% of Access Investment Management LLC's holdings, making the stock its 2nd biggest position. Access Investment Management LLC's holdings in Apollo Global Management were worth $17,399,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Steigerwald Gordon & Koch Inc. grew its position in Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Continuum Advisory LLC acquired a new stake in shares of Apollo Global Management during the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Apollo Global Management during the 2nd quarter valued at $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of Apollo Global Management during the 2nd quarter valued at $38,000. Finally, Pinnacle Holdings LLC purchased a new position in shares of Apollo Global Management during the 2nd quarter valued at $58,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on APO shares. BMO Capital Markets lifted their price objective 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. Keefe, Bruyette & Woods upgraded Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. Wall Street Zen raised Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Barclays raised 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. Finally, Rothschild & Co Redburn lifted their price target on Apollo Global Management from $171.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $151.90.

Apollo Global Management Price Performance

NYSE APO opened at $112.73 on Monday. The firm has a market cap of $66.57 billion, a P/E ratio of 41.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.58. The stock's 50-day moving average is $124.10 and its two-hundred day moving average is $125.37. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the business posted $1.92 earnings per share. On average, analysts anticipate that Apollo Global Management Inc. will post 7.96 earnings per share for the current fiscal 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 dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management's dividend payout ratio is currently 82.42%.

Insider Activity

In related news, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate 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.