Sequoia Financial Advisors LLC Acquires 25,575 Shares of Apollo Global Management, Inc. (NYSE:APO)

Sequoia Financial Advisors LLC raised its stake in Apollo Global Management, Inc. (NYSE:APO) by 751.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,978 shares of the financial services provider’s stock after acquiring an additional 25,575 shares during the period. Sequoia Financial Advisors LLC’s holdings in Apollo Global Management were worth $3,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in APO. Compagnie Lombard Odier SCmA acquired a new position in shares of Apollo Global Management during the third quarter worth about $35,000. Cullen Frost Bankers Inc. acquired a new position in Apollo Global Management during the 2nd quarter worth approximately $35,000. J.Safra Asset Management Corp grew its stake in shares of Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 305 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Apollo Global Management by 293.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 346 shares in the last quarter. Finally, Orion Capital Management LLC lifted its position in shares of Apollo Global Management by 20.0% in the first quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $143.54 on Thursday. The company has a 50 day moving average of $122.43 and a 200-day moving average of $117.37. The company has a market cap of $81.55 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62. 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 1-year low of $77.11 and a 1-year high of $146.82.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. During the same quarter in the prior year, the company 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.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wolfe Research began coverage on shares of Apollo Global Management in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 target price for the company. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price target on Apollo Global Management from $148.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price objective on Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.