Apollo Global Management Inc. $APO Position Lifted by Wedbush Securities Inc.

Wedbush Securities Inc. raised its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 792.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,475 shares of the financial services provider’s stock after purchasing an additional 19,070 shares during the quarter. Wedbush Securities Inc.’s holdings in Apollo Global Management were worth $2,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 worth $669,372,000 after buying an additional 234,517 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $459,987,000. Bank of New York Mellon Corp bought a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $336,644,000. Temasek Holdings Private Ltd lifted its position in shares of Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after buying an additional 1,614,813 shares during the period. Finally, Curated Wealth Partners LLC boosted its stake in Apollo Global Management by 91.8% in the 3rd quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after buying an additional 1,055,818 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on APO. BMO Capital Markets upped their price target on Apollo Global Management from $126.00 to $134.00 and gave the company a “market perform” rating in a research report on Monday, August 10th. Barclays increased their price objective on Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. UBS Group cut their price objective on Apollo Global Management from $172.00 to $163.00 and set a “buy” rating for the company in a report on Tuesday, October 13th. HSBC assumed coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a “buy” rating and a $145.00 target price on the stock. Finally, Evercore upped their target price on shares of Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $151.90.

Apollo Global Management Stock Performance

NYSE:APO opened at $112.73 on Friday. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The firm has a 50 day moving average of $124.10 and a 200-day moving average of $125.23. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $66.57 billion, a P/E ratio of 41.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.58.

Apollo Global Management (NYSE:APO) last announced its 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). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 7.96 EPS 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 issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio is presently 82.42%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.30% of the company’s stock.

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.