Provenance Wealth Advisors LLC Buys 7,169 Shares of Apollo Global Management Inc. $APO

Provenance Wealth Advisors LLC grew its stake in Apollo Global Management Inc. (NYSE:APO) by 811.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,053 shares of the financial services provider’s stock after purchasing an additional 7,169 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Apollo Global Management were worth $935,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apollo Global Management by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider’s stock valued at $669,372,000 after buying an additional 234,517 shares in the last quarter. Legal & General Group Plc purchased a new stake in Apollo Global Management during the 2nd quarter worth approximately $459,987,000. Bank of New York Mellon Corp increased its stake in Apollo Global Management by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,901,110 shares of the financial services provider’s stock worth $323,242,000 after buying an additional 188,668 shares in the last quarter. Temasek Holdings Private Ltd increased its stake in Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after buying an additional 1,614,813 shares in the last quarter. Finally, Curated Wealth Partners LLC raised its holdings in shares of Apollo Global Management by 91.8% during the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after acquiring an additional 1,055,818 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Up 8.3%

APO stock opened at $122.96 on Thursday. The company has a market cap of $72.61 billion, a price-to-earnings ratio of -67.19, a PEG ratio of 1.05 and a beta of 1.51. The company has a current ratio of 1.41, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29. The firm has a 50-day moving average of $121.46 and a two-hundred day moving average of $123.19.

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 analysts’ consensus estimates of $2.16 by ($0.05). The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Apollo Global Management had a positive return on equity of 12.11% and a negative net margin of 2.98%. During the same period last year, the business earned $1.92 earnings per share. As a group, analysts forecast that Apollo Global Management Inc. will post 7.96 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Wednesday, November 18th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Key Stories Impacting Apollo Global Management

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Apollo reported record quarterly originations of $114 billion, fee-related earnings of $802 million and assets under management of $1.07 trillion. The figures point to growing activity and scale across its business. Apollo reports record originations and AUM
• Positive Sentiment: Apollo is expanding its private-credit business, including a new European lending platform, while AI-related financing demand presents a potential source of future originations. Apollo launches European lending platform
• Neutral Sentiment: Analyst actions were mixed: JPMorgan raised its target to $157 and kept an Overweight rating, while Morgan Stanley, Barclays, RBC and KBW trimmed targets. The latter group retained Overweight or equivalent ratings, except RBC’s Sector Perform. JPMorgan analyst update
• Negative Sentiment: Third-quarter results missed analyst expectations, and Apollo posted a $1.06 billion net loss attributable to common stockholders, compared with a profit a year earlier. The company attributed the loss to investment-related items; rising expenses also weighed on the earnings picture. Apollo swings to a loss on investment-related losses

Analysts Set New Price Targets

Several equities analysts have recently weighed in on APO shares. Royal Bank Of Canada decreased their target price on Apollo Global Management from $146.00 to $138.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Morgan Stanley dropped their price target on Apollo Global Management from $150.00 to $149.00 and set an “overweight” rating for the company in a research report on Wednesday. Jefferies Financial Group dropped their price target on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating for the company in a research report on Tuesday, October 6th. Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, HSBC assumed coverage on Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average price target of $147.30.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.30% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.