Sierra Capital LLC Grows Position in Apollo Global Management, Inc. (NYSE:APO)

Sierra Capital LLC boosted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 113.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 34,655 shares of the financial services provider’s stock after acquiring an additional 18,412 shares during the quarter. Sierra Capital LLC’s holdings in Apollo Global Management were worth $4,329,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fisher Asset Management LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $266,000. Ballentine Partners LLC acquired a new stake in Apollo Global Management in the 1st quarter worth about $286,000. Riverview Trust Co purchased a new position in shares of Apollo Global Management in the 1st quarter worth about $45,000. Kingswood Wealth Advisors LLC raised its holdings in shares of Apollo Global Management by 10.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,255 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 318 shares during the period. Finally, CIC Wealth LLC raised its holdings in shares of Apollo Global Management by 16.5% during the 1st quarter. CIC Wealth LLC now owns 13,681 shares of the financial services provider’s stock valued at $1,538,000 after buying an additional 1,935 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO stock traded down $0.99 during mid-day trading on Tuesday, hitting $143.77. 840,867 shares of the company were exchanged, compared to its average volume of 2,590,095. The business has a 50 day simple moving average of $121.65 and a 200-day simple moving average of $117.16. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $81.68 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $146.82.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $1.54 earnings per share. On average, equities analysts forecast that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.29%. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on APO shares. Evercore ISI lifted their price objective on Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. BMO Capital Markets lifted their target price on Apollo Global Management from $123.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wolfe Research initiated coverage on Apollo Global Management in a research report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price objective for the company. Redburn Partners initiated coverage on Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. Finally, Barclays boosted their price objective on Apollo Global Management from $128.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.56.

Insider Buying and Selling at Apollo Global Management

In related news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Apollo Global Management Company 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.