Kerusso Capital Management LLC Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Kerusso Capital Management LLC lifted its position in Apollo Global Management, Inc. (NYSE:APO) by 6.4% in the 3rd quarter, Holdings Channel reports. The fund owned 39,823 shares of the financial services provider’s stock after acquiring an additional 2,412 shares during the quarter. Apollo Global Management accounts for 3.2% of Kerusso Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Kerusso Capital Management LLC’s holdings in Apollo Global Management were worth $4,974,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in APO. Lindbrook Capital LLC increased its stake in shares of Apollo Global Management by 60.1% during the third quarter. Lindbrook Capital LLC now owns 3,399 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 1,276 shares in the last quarter. Assetmark Inc. grew its stake in shares of Apollo Global Management by 2.8% in the 3rd quarter. Assetmark Inc. now owns 104,730 shares of the financial services provider’s stock worth $13,082,000 after buying an additional 2,848 shares during the last quarter. Verdence Capital Advisors LLC bought a new position in Apollo Global Management during the 3rd quarter valued at approximately $3,690,000. Pegasus Partners Ltd. purchased a new position in Apollo Global Management during the third quarter valued at $311,000. Finally, CWA Asset Management Group LLC bought a new stake in Apollo Global Management in the third quarter worth $438,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO stock traded up $2.18 during midday trading on Friday, reaching $162.00. 3,093,000 shares of the company’s stock traded hands, compared to its average volume of 2,642,481. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management, Inc. has a 52-week low of $83.88 and a 52-week high of $166.72. The stock has a market cap of $92.26 billion, a P/E ratio of 16.93, a PEG ratio of 1.53 and a beta of 1.59. The stock’s 50-day moving average is $132.07 and its 200 day moving average is $120.70.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 19.33%.

Analyst Ratings Changes

Several brokerages have recently weighed in on APO. TD Cowen raised their price target on Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday. Barclays raised their price objective on shares of Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group upped their target price on shares of Apollo Global Management from $117.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Citigroup increased their target price on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.83.

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.