Apollo Global Management Inc. $APO Stock Bought by Howard Capital Management LLC

Key Points

• Howard Capital Management increased its Apollo Global Management stake by 2,725.9% in the third quarter, purchasing 63,868 additional shares and bringing its holdings to 66,211 shares valued at approximately $7.7 million.
• Apollo shares recently traded at $110.87, below their 50-day and 200-day moving averages. The company’s latest quarterly results missed analysts’ estimates for both earnings and revenue.
• Wall Street maintains a “Moderate Buy” consensus rating, with an average price target of $152.60; Apollo also pays a $2.25 annualized dividend, yielding about 2.0%.

Howard Capital Management LLC increased its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2,725.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,211 shares of the financial services provider's stock after buying an additional 63,868 shares during the quarter. Howard Capital Management LLC's holdings in Apollo Global Management were worth $7,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. GM Advisory Group LLC increased its holdings in shares of Apollo Global Management by 0.9% during the 1st quarter. GM Advisory Group LLC now owns 12,015 shares of the financial services provider's stock valued at $1,339,000 after purchasing an additional 108 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of Apollo Global Management by 0.6% in the fourth quarter. Rehmann Capital Advisory Group now owns 17,392 shares of the financial services provider's stock valued at $2,518,000 after buying an additional 109 shares in the last quarter. Wealth Preservation Advisors LLC lifted its position in shares of Apollo Global Management by 6.6% during the 4th quarter. Wealth Preservation Advisors LLC now owns 1,848 shares of the financial services provider's stock valued at $268,000 after buying an additional 114 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in shares of Apollo Global Management by 14.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 924 shares of the financial services provider's stock valued at $103,000 after buying an additional 117 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Apollo Global Management by 3.9% in the 1st quarter. International Assets Investment Management LLC now owns 3,167 shares of the financial services provider's stock valued at $349,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

APO traded down $1.00 on Friday, reaching $110.87. 4,079,337 shares of the company's stock were exchanged, compared to its average volume of 3,543,628. The stock has a market cap of $65.47 billion, a PE ratio of 40.61, a P/E/G ratio of 0.99 and a beta of 1.58. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The stock's fifty day moving average price is $126.76 and its 200-day moving average price is $125.12. 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 released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter in the previous year, the company posted $1.92 EPS. Sell-side analysts expect that Apollo Global Management Inc. will post 8.00 EPS for the current year.

Apollo Global Management Dividend Announcement

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

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the firm's 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 sale, the chief financial officer directly owned 396,533 shares of the company's stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on APO shares. Piper Sandler increased their price objective on shares of Apollo Global Management from $156.00 to $159.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Wells Fargo & Company assumed coverage on shares of Apollo Global Management in a research report on Friday, October 2nd. They set an "equal weight" rating and a $127.00 price target for the company. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their price target on shares of Apollo Global Management from $150.00 to $154.00 and gave the company an "overweight" rating in a research note on Wednesday, September 2nd. Finally, Jefferies Financial Group lowered their price objective on Apollo Global Management from $138.00 to $127.00 and set a "hold" rating on the stock in a report on Tuesday, October 6th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and an average price target of $152.60.

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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