SBI Securities Co. Ltd. Acquires 8,610 Shares of Apollo Global Management Inc. $APO

SBI Securities Co. Ltd. boosted its holdings in Apollo Global Management Inc. (NYSE:APO) by 1,330.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,257 shares of the financial services provider’s stock after acquiring an additional 8,610 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Apollo Global Management were worth $1,074,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Steigerwald Gordon & Koch Inc. lifted its stake in Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 213 shares during the period. Continuum Advisory LLC acquired a new stake in Apollo Global Management during the second quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $38,000. Finally, Pinnacle Holdings LLC bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Price Performance

NYSE:APO opened at $112.73 on Friday. The firm has a market cap of $66.57 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.58. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $124.10 and its two-hundred day moving average price is $125.23.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $1.92 EPS. On average, equities 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 declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Analysts Set New Price Targets

APO has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their target price on Apollo Global Management from $154.00 to $148.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. JPMorgan Chase & Co. upped their price target on Apollo Global Management from $150.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Rothschild & Co Redburn increased their price objective on Apollo Global Management from $171.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, TD Cowen dropped their price objective on Apollo Global Management from $159.00 to $154.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $151.90.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 3,000 shares of the firm’s 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 completion of the sale, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by corporate insiders.

About Apollo Global Management

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.