Apollo Global Management Inc. $APO Stock: Sumitomo Mitsui Trust Group Inc. Cuts Holdings

Key Points

• Sumitomo Mitsui Trust Group reduced its Apollo Global Management stake by 3.4% in the third quarter, selling 31,025 shares. It still held 876,305 shares worth approximately $101.7 million, while institutions and hedge funds collectively owned 77.06% of APO.
• Analyst sentiment remains positive, with 14 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $151.40. Recent targets ranged from $127 to $163.
• APO opened at $119.69, below the analyst consensus target, but its latest quarterly results missed estimates: earnings per share came in at $2.11 versus $2.16 expected, and revenue was $5.57 billion versus $5.65 billion projected.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 876,305 shares of the financial services provider's stock after selling 31,025 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.15% of Apollo Global Management worth $101,704,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. grew its position in Apollo Global Management by 484.1% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Continuum Advisory LLC purchased a new position in shares of Apollo Global Management in the second quarter worth $30,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Apollo Global Management during the second quarter worth $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Apollo Global Management during the second quarter worth $38,000. Finally, MADDEN SECURITIES Corp acquired a new stake in shares of Apollo Global Management during the third quarter worth $55,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on APO. Wells Fargo & Company started coverage on shares of Apollo Global Management in a report on Friday, October 2nd. They set an "equal weight" rating and a $127.00 price objective on the stock. Bank of America reduced their target price on Apollo Global Management from $163.00 to $161.00 in a research note on Monday, October 5th. JPMorgan Chase & Co. lifted their price target on Apollo Global Management from $150.00 to $154.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 2nd. Weiss Ratings raised Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Finally, UBS Group dropped their price target on Apollo Global Management from $172.00 to $163.00 and set a "buy" rating on the stock in a research note on Tuesday, October 13th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $151.40.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $119.69 on Tuesday. The company has a 50 day simple moving average of $122.04 and a two-hundred day simple moving average of $123.45. The stock has a market cap of $70.68 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.05 and a beta of 1.58. 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 released its quarterly earnings data 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 return on equity of 14.01% and a net margin of 5.22%. During the same quarter in the previous year, the company earned $1.92 EPS. As a group, analysts predict that Apollo Global Management Inc. will post 7.96 earnings per share for the current year.

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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