Sowell Financial Services LLC Buys 73,412 Shares of Apollo Global Management Inc. $APO

Key Points

• Sowell Financial Services increased its Apollo Global Management stake by 2,040.9% in the third quarter, purchasing 73,412 additional shares and bringing its holdings to 77,009 shares valued at approximately $8.94 million.
• Institutional ownership remains substantial, with hedge funds and other institutional investors holding 77.06% of Apollo’s stock; several major investors, including Temasek and Curated Wealth Partners, also expanded their positions.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $151.40, despite Apollo’s latest quarterly earnings and revenue coming in slightly below estimates.

Sowell Financial Services LLC lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2,040.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,009 shares of the financial services provider's stock after purchasing an additional 73,412 shares during the period. Sowell Financial Services LLC's holdings in Apollo Global Management were worth $8,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Apollo Global Management by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock valued at $669,372,000 after purchasing an additional 234,517 shares in the last quarter. Legal & General Group Plc acquired a new position in Apollo Global Management in the 2nd quarter worth about $459,987,000. Bank of New York Mellon Corp acquired a new position in Apollo Global Management in the 2nd quarter worth about $336,644,000. Temasek Holdings Private Ltd boosted its position in Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Finally, Curated Wealth Partners LLC boosted its position in Apollo Global Management by 91.8% during the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider's stock worth $255,887,000 after purchasing an additional 1,055,818 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APO. Barclays boosted their price objective on Apollo Global Management from $132.00 to $157.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Morgan Stanley decreased their target price on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Evercore lifted their price target on shares of Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. Finally, TD Cowen cut their price target on shares of Apollo Global Management from $159.00 to $154.00 and set a "buy" rating for the company in a report on Monday, October 12th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $151.40.

Apollo Global Management Stock Performance

NYSE APO opened at $118.58 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The stock's 50 day simple moving average is $122.59 and its 200-day simple moving average is $123.71. The company has a market cap of $70.03 billion, a PE ratio of 43.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.58. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS 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 return on equity of 14.01% and a net margin of 5.22%. During the same quarter in the previous year, the firm posted $1.92 earnings per share. As a group, equities research analysts anticipate that Apollo Global Management Inc. will post 7.96 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were given a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management's dividend payout ratio is 82.42%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.30% of the stock is owned by company insiders.

Apollo Global Management Company 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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