SOL Capital Management CO Grows Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

SOL Capital Management CO boosted its stake in Apollo Global Management, Inc. (NYSE:APO) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,185 shares of the financial services provider’s stock after acquiring an additional 485 shares during the period. Apollo Global Management accounts for about 1.0% of SOL Capital Management CO’s holdings, making the stock its 22nd biggest position. SOL Capital Management CO’s holdings in Apollo Global Management were worth $9,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APO. Fisher Asset Management LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter worth $266,000. Ballentine Partners LLC acquired a new stake in Apollo Global Management in the first quarter valued at about $286,000. Kingswood Wealth Advisors LLC boosted its holdings in 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 valued at $366,000 after purchasing an additional 318 shares in the last quarter. Atlas Capital Advisors LLC increased its position in Apollo Global Management by 43.3% during the 1st quarter. Atlas Capital Advisors LLC now owns 2,984 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 902 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Apollo Global Management during the 1st quarter worth approximately $112,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on APO shares. Wells Fargo & Company lifted their price target on Apollo Global Management from $148.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. TD Cowen boosted their target price on shares of Apollo Global Management from $135.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. Morgan Stanley upped their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets lifted their price target on shares of Apollo Global Management from $123.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. 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 stock. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $139.56.

Apollo Global Management Price Performance

APO stock opened at $143.54 on Thursday. The stock has a market capitalization of $81.55 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62. The stock’s fifty day simple moving average is $123.18 and its 200-day simple moving average is $117.55. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $146.82. 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 released its 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 company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period in the prior year, the business posted $1.54 earnings per share. Equities research analysts expect that Apollo Global Management, Inc. will post 6.66 EPS 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 paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.29%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

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.