Apollo Global Management Inc. $APO Stake Raised by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC raised its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 8.5% in the third quarter, Holdings Channel.com reports. The fund owned 57,652 shares of the financial services provider’s stock after purchasing an additional 4,511 shares during the period. Eagle Rock Investment Company LLC’s holdings in Apollo Global Management were worth $6,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in APO. Steigerwald Gordon & Koch Inc. lifted its holdings in shares of 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 worth $29,000 after acquiring an additional 213 shares during the last quarter. Continuum Advisory LLC purchased a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $30,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management during the 1st quarter worth approximately $29,000. Keating Financial Advisory Services Inc. acquired a new stake in Apollo Global Management in the 2nd quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Apollo Global Management in the 2nd quarter valued at approximately $38,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on APO shares. Jefferies Financial Group cut their target price on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a research report on Tuesday, October 6th. Barclays upped their price target on Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Evercore raised their price target on Apollo Global Management from $145.00 to $146.00 in a research report on Thursday, October 8th. UBS Group lowered their price target on Apollo Global Management from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Tuesday, October 13th. Finally, Piper Sandler dropped their price objective on Apollo Global Management from $159.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $151.90.

Apollo Global Management Stock Up 0.5%

Shares of NYSE:APO opened at $111.76 on Thursday. The firm has a market capitalization of $66.00 billion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 1.02 and a beta of 1.58. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The firm’s 50-day moving average is $125.24 and its two-hundred day moving average is $125.26.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the business posted $1.92 EPS. Analysts predict that Apollo Global Management Inc. will post 7.97 EPS for the current year.

Apollo Global Management Announces Dividend

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

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is currently owned by insiders.

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.