Apollo Global Management Inc. $APO Stock Holdings Increased by Avidian Wealth Enterprises LLC

Key Points

• Avidian Wealth Enterprises increased its Apollo Global Management stake by 1,296.2% in the third quarter, bringing its holdings to 27,253 shares valued at approximately $3.16 million. Institutional investors and hedge funds collectively own 77.06% of Apollo’s stock.
• Apollo reported quarterly earnings of $2.11 per share and revenue of $5.57 billion, both slightly below analyst expectations. The company declared a quarterly dividend of $0.5625 per share, representing a 2.0% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $150.36, despite recent target-price reductions from some firms.

Avidian Wealth Enterprises LLC raised its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1,296.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,253 shares of the financial services provider's stock after buying an additional 25,301 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in Apollo Global Management were worth $3,163,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Toth Financial Advisory Corp purchased a new stake in Apollo Global Management in the third quarter valued at approximately $97,000. Chickasaw Capital Management LLC grew its stake in shares of Apollo Global Management by 4.7% in the third quarter. Chickasaw Capital Management LLC now owns 2,663 shares of the financial services provider's stock valued at $309,000 after buying an additional 120 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of Apollo Global Management by 437.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 645 shares of the financial services provider's stock valued at $75,000 after buying an additional 525 shares during the period. Cooper Financial Group lifted 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 worth $5,587,000 after acquiring an additional 44,424 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Apollo Global Management by 95.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 3,364 shares of the financial services provider's stock worth $390,000 after acquiring an additional 1,644 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the company's stock in a transaction that occurred 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 $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.30% of the stock is owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO stock opened at $115.34 on Friday. The company has a market cap of $68.11 billion, a P/E ratio of 42.25, a PEG ratio of 1.02 and a beta of 1.58. The firm has a fifty day moving average price of $128.41 and a 200 day moving average price of $125.01. 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 12 month low of $99.56 and a 12 month high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results 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). 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 prior year, the business earned $1.92 earnings per share. Sell-side analysts predict that Apollo Global Management Inc. will post 8.03 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Analyst Ratings Changes

APO has been the topic of a number of recent research reports. Piper Sandler cut their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. HSBC began coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They set a "buy" rating and a $145.00 target price on the stock. BMO Capital Markets reduced their target price on shares of Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating on the stock in a report on Monday, July 13th. Finally, TD Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Thursday, August 6th. 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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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