Perfromance Wealth Partners LLC Raises Stake in Apollo Global Management, Inc. (NYSE:APO)

Perfromance Wealth Partners LLC boosted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 211.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,222 shares of the financial services provider’s stock after purchasing an additional 4,222 shares during the period. Perfromance Wealth Partners LLC’s holdings in Apollo Global Management were worth $777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. Cullen Frost Bankers Inc. acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at $35,000. J.Safra Asset Management Corp raised its position in Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 305 shares during the period. Riverview Trust Co acquired a new stake in shares of Apollo Global Management in the first quarter valued at about $45,000. Compass Wealth Management LLC grew its position in shares of Apollo Global Management by 48.7% in the first quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 146 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 346 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on APO. JPMorgan Chase & Co. lifted their price objective on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Argus decreased their price target on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their price target for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $138.06.

Insider Buying and Selling

In other news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Apollo Global Management stock traded up $2.29 during mid-day trading on Friday, hitting $140.21. 2,716,659 shares of the company’s stock traded hands, compared to its average volume of 2,608,363. Apollo Global Management, Inc. has a one year low of $77.11 and a one year high of $140.35. The company has a market cap of $79.66 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62. The firm has a 50 day moving average price of $116.77 and a 200 day moving average price of $115.80. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same period in the previous year, the business posted $1.54 earnings per share. On average, equities analysts forecast that Apollo Global Management, Inc. will post 6.66 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.