Apollo Global Management Inc. $APO Shares Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC increased its holdings in Apollo Global Management Inc. (NYSE:APO) by 2,040.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

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 grew 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 during the period. Legal & General Group Plc acquired a new position in shares of Apollo Global Management in the 2nd quarter worth approximately $459,987,000. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management in the 2nd quarter valued at $336,644,000. Temasek Holdings Private Ltd grew its position in Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after acquiring an additional 1,614,813 shares during the period. Finally, Curated Wealth Partners LLC grew its position in Apollo Global Management by 91.8% in the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after acquiring an additional 1,055,818 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Apollo Global Management Trading Up 0.4%

Shares of NYSE APO opened at $111.36 on Wednesday. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The company has a 50-day moving average of $125.77 and a two-hundred day moving average of $125.23. The company has a market cap of $65.76 billion, a PE ratio of 40.79, a P/E/G ratio of 0.99 and a beta of 1.58. 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 EPS for the quarter, missing the consensus estimate 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 company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the company earned $1.92 earnings per share. As a group, equities analysts expect that Apollo Global Management Inc. will post 7.99 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio is 82.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Bank of America dropped their target price on shares of Apollo Global Management from $163.00 to $161.00 in a research report on Monday, October 5th. 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. HSBC began coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, Royal Bank Of Canada boosted their price target on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.90.

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.