Brown Lisle Cummings Inc. Acquires 9,309 Shares of Apollo Global Management Inc. $APO

Brown Lisle Cummings Inc. boosted its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 58,181.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,325 shares of the financial services provider’s stock after buying an additional 9,309 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Apollo Global Management were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in Apollo Global Management in the 2nd quarter valued at about $459,987,000. Bank of New York Mellon Corp purchased a new stake in Apollo Global Management during the second quarter worth about $336,644,000. Temasek Holdings Private Ltd lifted its position in shares of 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. Deutsche Bank AG acquired a new stake in shares of Apollo Global Management during the second quarter worth about $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Apollo Global Management during the second quarter worth about $136,528,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $110.87 on Friday. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29. 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 firm has a market capitalization of $65.47 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 0.98 and a beta of 1.58. The business’s fifty day moving average price is $126.76 and its 200 day moving average price is $125.12.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). The business 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 earned $1.92 EPS. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.00 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 2.0%. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Morgan Stanley lowered their price objective on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Piper Sandler upped their target price on shares of Apollo Global Management from $156.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group reduced their target price on shares of Apollo Global Management from $154.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Rothschild & Co Redburn increased their target price on shares of Apollo Global Management from $171.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Barclays raised 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 report on Wednesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $152.60.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer 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 document filed with the Securities & Exchange Commission, which can be accessed 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.