Ameriprise Financial Inc. grew its stake in shares of Apollo Global Management, LLC (NYSE:APO) by 55.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,953 shares of the financial services provider’s stock after purchasing an additional 5,350 shares during the period. Ameriprise Financial Inc.’s holdings in Apollo Global Management were worth $396,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Penserra Capital Management LLC lifted its holdings in shares of Apollo Global Management by 10.0% during the second quarter. Penserra Capital Management LLC now owns 6,479 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 589 shares during the last quarter. Cowen Prime Services LLC lifted its holdings in shares of Apollo Global Management by 400.0% during the second quarter. Cowen Prime Services LLC now owns 7,500 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 6,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Apollo Global Management during the second quarter valued at $211,000. Bank of New York Mellon Corp purchased a new stake in shares of Apollo Global Management during the second quarter valued at $240,000. Finally, Wedbush Securities Inc. lifted its holdings in shares of Apollo Global Management by 5.7% during the second quarter. Wedbush Securities Inc. now owns 9,280 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 500 shares during the last quarter. 73.69% of the stock is owned by institutional investors and hedge funds.
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Apollo Global Management, LLC (APO) opened at $29.62 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.74 and a quick ratio of 1.74. Apollo Global Management, LLC has a 52-week low of $18.75 and a 52-week high of $33.37. The firm has a market capitalization of $5,649.43, a PE ratio of 8.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.23.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.51. The business had revenue of $645.20 million for the quarter, compared to analyst estimates of $467.72 million. Apollo Global Management had a return on equity of 64.11% and a net margin of 24.82%. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 EPS. sell-side analysts anticipate that Apollo Global Management, LLC will post 2.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Monday, November 20th. Apollo Global Management’s dividend payout ratio is 67.97%.
In related news, major shareholder Tiger Global Management Llc acquired 253,672 shares of the stock in a transaction dated Friday, September 8th. The shares were acquired at an average price of $28.48 per share, with a total value of $7,224,578.56. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director A B. Krongard acquired 1,000 shares of the stock in a transaction dated Monday, August 28th. The shares were bought at an average cost of $29.28 per share, for a total transaction of $29,280.00. The disclosure for this purchase can be found here. Corporate insiders own 4.11% of the company’s stock.
APO has been the subject of several research analyst reports. Zacks Investment Research downgraded Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. BidaskClub raised Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. JMP Securities reissued an “outperform” rating and issued a $32.00 price objective on shares of Apollo Global Management in a research note on Friday, August 4th. Citigroup Inc. increased their price objective on Apollo Global Management from $35.50 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $35.00 price objective on shares of Apollo Global Management in a research note on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $33.38.
Apollo Global Management Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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