Hohimer Wealth Management LLC Makes New $816,000 Investment in Apollo Global Management Inc. $APO

Hohimer Wealth Management LLC purchased a new position in Apollo Global Management Inc. (NYSE:APO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,915 shares of the financial services provider’s stock, valued at approximately $816,000.

A number of other institutional investors and hedge funds have also bought and sold shares of APO. Saudi Central Bank lifted its holdings in Apollo Global Management by 82.6% in the 2nd quarter. Saudi Central Bank now owns 29,346 shares of the financial services provider’s stock worth $3,472,000 after purchasing an additional 13,278 shares in the last quarter. Nykredit A S bought a new position in Apollo Global Management in the 2nd quarter worth approximately $14,515,000. Cooper Financial Group grew its holdings in Apollo Global Management by 1,194.5% during the 3rd quarter. Cooper Financial Group now owns 48,143 shares of the financial services provider’s stock valued at $5,587,000 after buying an additional 44,424 shares in the last quarter. Deutsche Bank AG purchased a new stake in Apollo Global Management during the 2nd quarter valued at approximately $172,290,000. Finally, NewEdge Advisors LLC raised its position in shares of Apollo Global Management by 130.0% during the second quarter. NewEdge Advisors LLC now owns 41,404 shares of the financial services provider’s stock valued at $4,899,000 after buying an additional 23,400 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Up 4.7%

Shares of NYSE:APO opened at $122.24 on Tuesday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The stock has a market cap of $72.19 billion, a P/E ratio of -66.80, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. The business’s 50 day moving average is $120.53 and its 200 day moving average is $122.86. The company has a quick ratio of 1.70, a current ratio of 1.41 and a debt-to-equity ratio of 0.42.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Wednesday, November 18th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, November 18th. Apollo Global Management’s dividend payout ratio is currently -122.95%.

Analyst Upgrades and Downgrades

APO has been the topic of several research analyst reports. 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. HSBC assumed coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They set a “buy” rating and a $145.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Apollo Global Management from $153.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. UBS Group reduced their price target on shares of Apollo Global Management from $163.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Finally, Evercore boosted their price target on shares of Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $145.21.

Insiders Place Their Bets

In other news, insider Whitney Chatterjee sold 7,339 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $117.83, for a total transaction of $864,754.37. Following the transaction, the insider owned 129,151 shares of the company’s stock, valued at approximately $15,217,862.33. This represents a 5.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were 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 approximately $55,847,707.72. This represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is currently owned by corporate insiders.

About Apollo Global Management

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform.

Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.