Apollo Global Management Inc. $APO Stock Position Boosted by Obermeyer Wealth Partners

Key Points

• Obermeyer Wealth Partners increased its Apollo Global Management position by 4,290% in the third quarter, owning 138,198 shares valued at approximately $16.0 million. Institutional investors collectively hold 77.06% of APO shares.
• Apollo reported quarterly earnings of $2.11 per share, below the $2.16 consensus estimate, while revenue of $5.57 billion also missed expectations. The company maintains a quarterly dividend of $0.5625 per share, equivalent to a 2.0% annual yield.
• Analysts remain generally positive, with 14 Buy ratings and six Hold ratings, producing a “Moderate Buy” consensus and an average price target of $151.90.

Obermeyer Wealth Partners grew its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 4,290.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,198 shares of the financial services provider's stock after purchasing an additional 135,050 shares during the quarter. Obermeyer Wealth Partners' holdings in Apollo Global Management were worth $16,039,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Eagle Rock Investment Company LLC grew its holdings in shares of Apollo Global Management by 8.5% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 57,652 shares of the financial services provider's stock valued at $6,612,000 after purchasing an additional 4,511 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in Apollo Global Management by 83.9% in the third quarter. Axxcess Wealth Management LLC now owns 29,833 shares of the financial services provider's stock worth $3,188,000 after purchasing an additional 13,613 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Apollo Global Management by 311.2% in the third quarter. Crossmark Global Holdings Inc. now owns 64,941 shares of the financial services provider's stock worth $7,537,000 after purchasing an additional 49,148 shares during the last quarter. Sowell Financial Services LLC lifted its stake in Apollo Global Management by 2,040.9% in the third quarter. Sowell Financial Services LLC now owns 77,009 shares of the financial services provider's stock worth $8,938,000 after purchasing an additional 73,412 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Apollo Global Management by 586.0% in the third quarter. Quadrant Capital Group LLC now owns 22,033 shares of the financial services provider's stock worth $2,557,000 after purchasing an additional 18,821 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Martin Kelly sold 3,000 shares of the firm'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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is owned by insiders.

Apollo Global Management Trading Up 0.5%

NYSE:APO opened at $111.76 on Thursday. The company has a fifty day moving average of $125.24 and a 200 day moving average of $125.26. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $66.00 billion, a P/E ratio of 40.94, a P/E/G 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 for the quarter, missing the consensus estimate of $2.16 by ($0.05). The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations 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 period in the previous year, the company earned $1.92 EPS. On average, research analysts predict that Apollo Global Management Inc. will post 7.97 earnings per share for the current year.

Apollo Global Management Announces Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on APO. Barclays upped their price target on shares of Apollo Global Management from $132.00 to $157.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. TD Cowen decreased their price objective on Apollo Global Management from $159.00 to $154.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Keefe, Bruyette & Woods raised Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. Wells Fargo & Company started coverage on Apollo Global Management in a research note on Friday, October 2nd. They issued an "equal weight" rating and a $127.00 target price for the company. Finally, UBS Group dropped their target price on Apollo Global Management from $172.00 to $163.00 and set a "buy" rating for the company in a report on Tuesday, October 13th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $151.90.

Apollo Global Management Profile

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.

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