Oppenheimer & Co. Inc. Sells 5,262 Shares of Apollo Global Management Inc. $APO

Oppenheimer & Co. Inc. lessened its position in shares of Apollo Global Management Inc. (NYSE:APO) by 9.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,649 shares of the financial services provider’s stock after selling 5,262 shares during the period. Oppenheimer & Co. Inc.’s holdings in Apollo Global Management were worth $6,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC raised its position in shares of Apollo Global Management by 24.0% in the 3rd quarter. Park Avenue Securities LLC now owns 12,544 shares of the financial services provider’s stock worth $1,456,000 after acquiring an additional 2,426 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Apollo Global Management by 28.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 65,601 shares of the financial services provider’s stock valued at $7,614,000 after purchasing an additional 14,524 shares during the period. Apollon Wealth Management LLC boosted its position in shares of Apollo Global Management by 195.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 51,262 shares of the financial services provider’s stock valued at $5,949,000 after purchasing an additional 33,911 shares in the last quarter. Access Investment Management LLC boosted its position in shares of Apollo Global Management by 7.3% during the 3rd quarter. Access Investment Management LLC now owns 151,846 shares of the financial services provider’s stock valued at $17,399,000 after purchasing an additional 10,284 shares in the last quarter. Finally, Hilton Head Capital Partners LLC boosted its position in shares of Apollo Global Management by 295.3% during the 3rd quarter. Hilton Head Capital Partners LLC now owns 2,506 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 1,872 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the business’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. The trade was a 0.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.30% of the company’s stock.

Apollo Global Management Trading Down 0.5%

Shares of Apollo Global Management stock opened at $113.65 on Thursday. The company has a market capitalization of $67.11 billion, a P/E ratio of 41.63, a price-to-earnings-growth ratio of 1.04 and a beta of 1.58. The stock has a fifty day simple moving average of $122.89 and a 200 day simple moving average of $123.84. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. 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 (NYSE:APO) last released 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 firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the business earned $1.92 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 7.96 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were paid 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 payout ratio is presently 82.42%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APO shares. Rothschild & Co Redburn boosted their target price on shares of Apollo Global Management from $171.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada increased their target price on shares of Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Barclays lifted 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 note on Wednesday, August 5th. Finally, UBS Group decreased their price target on shares of Apollo Global Management from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.40.

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.