Apollo Global Management Inc. (NYSE:APO) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in Apollo Global Management by 20.5% in the first quarter, now owning 333,583 shares worth approximately $45.7 million.
• Analyst reports show mixed ratings for Apollo Global Management, with seventeen buy ratings and a consensus price target of $161.00.
• The company's recent quarterly earnings revealed a net revenue decrease of 21.2% year-over-year, reporting $1.82 EPS, which fell short of market expectations.

LPL Financial LLC lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 20.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 333,583 shares of the financial services provider's stock after purchasing an additional 56,749 shares during the quarter. LPL Financial LLC owned about 0.06% of Apollo Global Management worth $45,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after buying an additional 1,739,807 shares during the last quarter. Northern Trust Corp lifted its position in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after purchasing an additional 1,460,689 shares in the last quarter. Allen Investment Management LLC lifted its position in shares of Apollo Global Management by 14.4% during the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider's stock worth $361,664,000 after purchasing an additional 333,428 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Apollo Global Management by 71.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider's stock worth $429,405,000 after purchasing an additional 1,082,825 shares in the last quarter. Finally, Curated Wealth Partners LLC lifted its position in shares of Apollo Global Management by 0.3% during the first quarter. Curated Wealth Partners LLC now owns 2,229,366 shares of the financial services provider's stock worth $305,289,000 after purchasing an additional 6,623 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock traded down $0.01 during trading on Wednesday, reaching $145.53. The company's stock had a trading volume of 2,092,489 shares, compared to its average volume of 3,620,612. The company has a 50-day moving average price of $141.10 and a two-hundred day moving average price of $141.93. The firm has a market cap of $83.17 billion, a PE ratio of 25.49, a P/E/G ratio of 1.60 and a beta of 1.62. Apollo Global Management Inc. has a fifty-two week low of $102.14 and a fifty-two week high of $189.49. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. During the same period in the previous year, the company posted $1.64 EPS. On average, analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

Analyst Upgrades and Downgrades

APO has been the topic of several research reports. TD Cowen reduced their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Evercore ISI increased their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday. Morgan Stanley reduced their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Piper Sandler reduced their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $161.26.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.