Sanders Morris Harris LLC Buys 9,590 Shares of Apollo Global Management Inc. $APO

Sanders Morris Harris LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 9,590 shares of the financial services provider’s stock, valued at approximately $1,113,000.

Other hedge funds have also recently modified their holdings of the company. Generate Investment Management Ltd bought a new position in Apollo Global Management in the third quarter worth approximately $8,211,000. First Citizens Bank & Trust Co. bought a new stake in shares of Apollo Global Management in the 3rd quarter valued at about $4,567,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Apollo Global Management by 148.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 16,408 shares of the financial services provider’s stock valued at $1,904,000 after buying an additional 9,794 shares in the last quarter. Krilogy Financial LLC grew its position in shares of Apollo Global Management by 237.5% in the 3rd quarter. Krilogy Financial LLC now owns 10,759 shares of the financial services provider’s stock worth $1,249,000 after buying an additional 7,571 shares during the last quarter. Finally, Armstrong Advisory Group Inc. grew its position in shares of Apollo Global Management by 2,113.9% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 28,869 shares of the financial services provider’s stock worth $3,351,000 after buying an additional 27,565 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 2.4%

Shares of APO traded down $2.84 during mid-day trading on Wednesday, hitting $113.44. 4,647,116 shares of the company traded hands, compared to its average volume of 4,244,881. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $66.99 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58. The business has a 50 day moving average of $127.73 and a 200 day moving average of $125.17.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the firm posted $1.92 EPS. Equities research analysts anticipate that Apollo Global Management Inc. will post 8.00 EPS for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were issued a $0.5625 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.0%. Apollo Global Management’s dividend payout ratio is currently 82.42%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on APO. Piper Sandler boosted their price objective on shares of Apollo Global Management from $156.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Morgan Stanley decreased their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. BMO Capital Markets raised their target price on shares of Apollo Global Management from $126.00 to $134.00 and gave the company a “market perform” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.60.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.