Dividend Assets Capital LLC Increases Holdings in Apollo Global Management, LLC (APO)

Dividend Assets Capital LLC raised its stake in shares of Apollo Global Management, LLC (NYSE:APO) by 25.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,500 shares of the financial services provider’s stock after buying an additional 4,000 shares during the period. Dividend Assets Capital LLC’s holdings in Apollo Global Management were worth $587,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of APO. Alps Advisors Inc. boosted its holdings in Apollo Global Management by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,534 shares of the financial services provider’s stock worth $543,000 after buying an additional 53 shares during the period. Veritable L.P. boosted its holdings in Apollo Global Management by 1.4% in the 2nd quarter. Veritable L.P. now owns 13,037 shares of the financial services provider’s stock worth $345,000 after buying an additional 182 shares during the period. Wedbush Securities Inc. boosted its holdings in Apollo Global Management by 5.7% in the 2nd quarter. Wedbush Securities Inc. now owns 9,280 shares of the financial services provider’s stock worth $245,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC boosted its holdings in Apollo Global Management by 10.0% in the 2nd quarter. Penserra Capital Management LLC now owns 6,479 shares of the financial services provider’s stock worth $171,000 after buying an additional 589 shares during the period. Finally, SOL Capital Management CO boosted its holdings in Apollo Global Management by 1.4% in the 2nd quarter. SOL Capital Management CO now owns 44,200 shares of the financial services provider’s stock worth $1,169,000 after buying an additional 600 shares during the period. 73.69% of the stock is owned by hedge funds and other institutional investors.

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Several research firms have commented on APO. BidaskClub raised shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. UBS AG reissued a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Apollo Global Management in a report on Friday, August 4th. Deutsche Bank AG increased their price objective on shares of Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Credit Suisse Group increased their price objective on shares of Apollo Global Management from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $30.00 price objective (up previously from $28.00) on shares of Apollo Global Management in a report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $33.38.

In other news, Director A B. Krongard bought 1,000 shares of the stock in a transaction on Monday, August 28th. The stock was bought at an average cost of $29.28 per share, for a total transaction of $29,280.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tiger Global Management Llc bought 253,672 shares of the stock in a transaction on Friday, September 8th. The stock was purchased at an average price of $28.48 per share, with a total value of $7,224,578.56. The disclosure for this purchase can be found here. 4.11% of the stock is currently owned by company insiders.

Shares of Apollo Global Management, LLC (NYSE:APO) traded down $0.07 during mid-day trading on Tuesday, reaching $29.12. 370,101 shares of the company’s stock were exchanged, compared to its average volume of 1,251,812. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $5,881.68, a P/E ratio of 9.13, a P/E/G ratio of 1.02 and a beta of 1.23. Apollo Global Management, LLC has a twelve month low of $18.75 and a twelve month high of $33.37.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.51. The business had revenue of $645.20 million for the quarter, compared to the consensus estimate of $467.72 million. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. analysts expect that Apollo Global Management, LLC will post 2.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $0.39 per share. The ex-dividend date is Monday, November 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.36%. Apollo Global Management’s dividend payout ratio is presently 67.97%.

Apollo Global Management Company 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.

Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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