Apollo Global Management Inc. $APO Stock Acquired by CoreCap Advisors LLC

Key Points

• CoreCap Advisors increased its Apollo Global Management stake by 662.9% in the third quarter, ending with 15,373 shares valued at approximately $1.78 million. Institutional investors collectively own 77.06% of APO.
• Apollo shares opened at $118.71, compared with a 12-month range of $99.56 to $153.29. The company reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while revenue of $5.57 billion also fell short of expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $150.36. Apollo declared a quarterly dividend of $0.5625, equivalent to an annualized $2.25 payout and a 1.9% yield.

CoreCap Advisors LLC lifted its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 662.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,373 shares of the financial services provider's stock after purchasing an additional 13,358 shares during the quarter. CoreCap Advisors LLC's holdings in Apollo Global Management were worth $1,784,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of APO. Legal & General Group Plc bought a new stake in shares of Apollo Global Management during the 2nd quarter worth about $459,987,000. Bank of New York Mellon Corp acquired a new position in shares of Apollo Global Management during the second quarter valued at approximately $336,644,000. Boston Partners increased its stake in shares of Apollo Global Management by 106.7% during the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock valued at $474,384,000 after acquiring an additional 1,692,532 shares during the period. Temasek Holdings Private Ltd raised its holdings 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 purchasing an additional 1,614,813 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Apollo Global Management in the second quarter worth approximately $172,290,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Price Performance

Shares of APO stock opened at $118.71 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 market capitalization of $70.10 billion, a P/E ratio of 43.48, a P/E/G ratio of 1.02 and a beta of 1.58. The stock has a 50 day moving average of $128.27 and a two-hundred day moving average of $124.96. 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 issued its 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 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 the consensus estimate of $5.65 billion. During the same period last year, the business earned $1.92 earnings per share. As a group, equities analysts expect that Apollo Global Management Inc. will post 8.03 EPS for the current year.

Apollo Global Management Dividend Announcement

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

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction dated 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. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. TD Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research note on Thursday, August 6th. HSBC started coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They issued a "buy" rating and a $145.00 price target on the stock. Barclays lifted their price objective on shares of 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, Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.36.

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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