Apollo Global Management Inc. $APO Stock Acquired by Armstrong Advisory Group Inc.

Key Points

• Armstrong Advisory Group increased its Apollo Global Management holdings by 2,113.9% in the third quarter, reaching 28,869 shares valued at approximately $3.35 million. Institutional investors collectively own 77.06% of APO.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus rating and an average price target of $150.36. Recent actions included price-target increases from JPMorgan and upgrades from several research firms.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while revenue of $5.57 billion also missed expectations. The company maintains a quarterly dividend of $0.5625, equivalent to a 1.9% annualized yield.

Armstrong Advisory Group Inc. raised its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2,113.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,869 shares of the financial services provider's stock after buying an additional 27,565 shares during the quarter. Armstrong Advisory Group Inc.'s holdings in Apollo Global Management were worth $3,351,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Nykredit A S bought a new position in Apollo Global Management in the second quarter worth approximately $14,515,000. Louisiana State Employees Retirement System acquired a new stake in Apollo Global Management in the 1st quarter valued at $2,641,000. Cooper Financial Group increased its stake in Apollo Global Management by 1,194.5% during the 3rd quarter. Cooper Financial Group now owns 48,143 shares of the financial services provider's stock valued at $5,587,000 after purchasing an additional 44,424 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Apollo Global Management by 7.1% during the fourth quarter. Hsbc Holdings PLC now owns 894,451 shares of the financial services provider's stock worth $129,786,000 after buying an additional 59,585 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Apollo Global Management during the second quarter valued at about $172,290,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APO. Weiss Ratings upgraded shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. Piper Sandler cut their price target on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a research note on Monday, July 13th. Keefe, Bruyette & Woods raised Apollo Global Management to a "hold" rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on Apollo Global Management from $150.00 to $154.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 2nd. Finally, Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $150.36.

Apollo Global Management Stock Performance

Shares of APO opened at $118.71 on Friday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The stock's 50-day simple moving average is $128.27 and its 200 day simple moving average is $124.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $70.10 billion, a price-to-earnings ratio of 43.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.58.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly 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 firm had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.65 billion. During the same period in the previous year, the company posted $1.92 earnings per share. Research analysts forecast that Apollo Global Management Inc. will post 8.03 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were given a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is 82.42%.

Insider Activity

In related news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management 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 completion of the sale, the chief financial officer owned 396,533 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.30% of the company's stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.

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