Apollo Global Management, Inc. (NYSE:APO) Position Cut by Golden State Equity Partners

Golden State Equity Partners reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 16.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,684 shares of the financial services provider’s stock after selling 520 shares during the quarter. Golden State Equity Partners’ holdings in Apollo Global Management were worth $335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. bought a new stake in shares of Apollo Global Management during the second quarter valued at about $35,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Apollo Global Management during the third quarter valued at about $35,000. J.Safra Asset Management Corp raised its stake in shares of 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 valued at $39,000 after purchasing an additional 305 shares in the last quarter. Massmutual Trust Co. FSB ADV raised 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 valued at $55,000 after purchasing an additional 346 shares in the last quarter. Finally, Orion Capital Management LLC raised its stake in shares of Apollo Global Management by 20.0% during the first quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 100 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Activity

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. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Trading Down 0.1 %

NYSE:APO opened at $145.93 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $147.04. The stock’s 50-day moving average is $126.66 and its two-hundred day moving average is $118.68. The stock has a market cap of $82.91 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (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. As a group, equities research analysts forecast that Apollo Global Management, Inc. will post 6.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on APO. Evercore ISI lifted their target price on Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their target price on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Morgan Stanley lifted their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $139.56.

About Apollo Global Management

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.