Apollo Global Management Inc. $APO Shares Acquired by Wedbush Securities Inc.

Wedbush Securities Inc. increased its stake in Apollo Global Management Inc. (NYSE:APO) by 792.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,475 shares of the financial services provider’s stock after purchasing an additional 19,070 shares during the period. Wedbush Securities Inc.’s holdings in Apollo Global Management were worth $2,492,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of APO. Steigerwald Gordon & Koch Inc. boosted its position in Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after buying an additional 213 shares during the last quarter. Continuum Advisory LLC acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Apollo Global Management during the second quarter worth $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Apollo Global Management during the second quarter worth $38,000. Finally, Pinnacle Holdings LLC bought a new stake in shares of Apollo Global Management during the second quarter worth $58,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the topic of several research reports. Barclays upped their price target on Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Wells Fargo & Company started coverage on Apollo Global Management in a research report on Friday, October 2nd. They issued an “equal weight” rating and a $127.00 price objective for the company. Jefferies Financial Group dropped their price objective on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating for the company in a report on Tuesday, October 6th. HSBC assumed coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Fourteen 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, the company has an average rating of “Moderate Buy” and an average price target of $151.90.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is owned by company insiders.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $112.73 on Friday. The firm has a fifty day moving average of $124.10 and a two-hundred day moving average of $125.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $66.57 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 1.04 and a beta of 1.58. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. As a group, equities research analysts predict that Apollo Global Management Inc. will post 7.96 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a $0.5625 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 2.0%. Apollo Global Management’s payout ratio is presently 82.42%.

Apollo Global Management Profile

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.