Generate Investment Management Ltd Purchases 70,752 Shares of Apollo Global Management Inc. $APO

Key Points

• Generate Investment Management Ltd. acquired 70,752 shares of Apollo Global Management during the third quarter, worth approximately $8.2 million. Institutional investors collectively own 77.06% of APO.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and an average price target of $152.60.
• Apollo shares fell 3.0% to $112.77, below both their 50-day and 200-day moving averages. The company’s latest quarterly results missed analyst expectations for both earnings and revenue, while its quarterly dividend implies a 2.0% yield.

Generate Investment Management Ltd acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,752 shares of the financial services provider's stock, valued at approximately $8,211,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Citizens Bank & Trust Co. purchased a new stake in shares of Apollo Global Management during the third quarter worth about $4,567,000. B. Riley Wealth Advisors Inc. raised its position in shares of Apollo Global Management by 148.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 16,408 shares of the financial services provider's stock valued at $1,904,000 after buying an additional 9,794 shares during the last quarter. Krilogy Financial LLC lifted its stake in shares of Apollo Global Management by 237.5% during the third quarter. Krilogy Financial LLC now owns 10,759 shares of the financial services provider's stock valued at $1,249,000 after buying an additional 7,571 shares during the period. Armstrong Advisory Group Inc. lifted its stake in shares of Apollo Global Management by 2,113.9% during the third quarter. Armstrong Advisory Group Inc. now owns 28,869 shares of the financial services provider's stock valued at $3,351,000 after buying an additional 27,565 shares during the period. Finally, Marquette Asset Management LLC lifted its stake in shares of Apollo Global Management by 660.6% during the third quarter. Marquette Asset Management LLC now owns 502 shares of the financial services provider's stock valued at $58,000 after buying an additional 436 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on APO. Evercore lifted their target price on shares of Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. TD Cowen reduced their price target on Apollo Global Management from $159.00 to $154.00 and set a "buy" rating on the stock in a research note on Monday. Bank of America reduced their price target on Apollo Global Management from $163.00 to $161.00 in a research note on Monday, October 5th. Wells Fargo & Company assumed coverage on 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. Finally, The Goldman Sachs Group lowered their price objective on Apollo Global Management from $154.00 to $148.00 and set a "buy" rating for the company in a research report on Friday, October 2nd. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $152.60.

Apollo Global Management Trading Down 3.0%

Shares of APO traded down $3.51 during mid-day trading on Wednesday, hitting $112.77. The company had a trading volume of 2,081,040 shares, compared to its average volume of 4,231,079. The business's 50-day simple moving average is $127.73 and its 200-day simple moving average is $125.17. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The stock has a market cap of $66.60 billion, a PE ratio of 41.35, a P/E/G ratio of 1.06 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 analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the business earned $1.92 EPS. Sell-side analysts forecast that Apollo Global Management Inc. will post 8.00 earnings per share for the current year.

Apollo Global Management Announces Dividend

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 dividend of $0.5625 per share. 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 payout ratio is currently 82.42%.

Insider Activity

In related news, CFO Martin Kelly sold 3,000 shares of the company'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 sale, the chief financial officer directly owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.30% of the stock is owned by insiders.

About Apollo Global Management

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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