Apollo Global Management Inc. $APO Stock Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. boosted its position in Apollo Global Management Inc. (NYSE:APO) by 170.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,652 shares of the financial services provider’s stock after acquiring an additional 19,952 shares during the quarter. Moors & Cabot Inc.’s holdings in Apollo Global Management were worth $3,674,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in shares of Apollo Global Management during the 2nd quarter worth about $459,987,000. Bank of New York Mellon Corp acquired a new stake in shares of Apollo Global Management during the 2nd quarter worth about $336,644,000. Temasek Holdings Private Ltd raised its position in shares of Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after acquiring an additional 1,614,813 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Apollo Global Management during the 2nd quarter worth about $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Apollo Global Management during the second quarter worth approximately $136,528,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE APO traded up $2.03 during midday trading on Friday, reaching $123.38. 3,063,833 shares of the company were exchanged, compared to its average volume of 3,852,949. The stock has a market cap of $72.84 billion, a P/E ratio of -67.42, a PEG ratio of 1.15 and a beta of 1.51. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The stock has a fifty day simple moving average of $119.63 and a 200 day simple moving average of $122.62. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.41.

Apollo Global Management Announces Dividend

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

Insider Transactions at Apollo Global Management

In related news, insider Whitney Chatterjee sold 7,339 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $117.83, for a total value of $864,754.37. Following the completion of the sale, the insider owned 129,151 shares in the company, valued at $15,217,862.33. This trade represents a 5.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APO has been the subject of a number of research analyst reports. Bank of America lowered their price target on Apollo Global Management from $163.00 to $161.00 in a report on Monday, October 5th. HSBC started coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 price objective for the company. Royal Bank Of Canada reduced their price objective on shares of Apollo Global Management from $146.00 to $138.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods lowered their target price on shares of Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, November 4th. Finally, UBS Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Apollo Global Management in a research report on Friday. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.21.

Apollo Global Management Profile

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.