Pzena Investment Management LLC Has $8.73 Million Holdings in Apollo Global Management, LLC (APO)
Pzena Investment Management LLC lowered its position in Apollo Global Management, LLC (NYSE:APO) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 290,089 shares of the financial services provider’s stock after selling 8,086 shares during the period. Pzena Investment Management LLC owned approximately 0.15% of Apollo Global Management worth $8,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Penserra Capital Management LLC lifted its stake in Apollo Global Management by 10.0% in the second quarter. Penserra Capital Management LLC now owns 6,479 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 589 shares during the last quarter. Cowen Prime Services LLC lifted its stake in Apollo Global Management by 400.0% in the second quarter. Cowen Prime Services LLC now owns 7,500 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 6,000 shares during the last quarter. First Midwest Bank Trust Division bought a new stake in Apollo Global Management in the third quarter worth about $232,000. Janney Montgomery Scott LLC bought a new stake in Apollo Global Management in the second quarter worth about $211,000. Finally, Bank of New York Mellon Corp bought a new stake in Apollo Global Management in the second quarter worth about $240,000. 73.60% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts have recently commented on the stock. Jefferies Group LLC reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 3rd. UBS AG reaffirmed a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $35.00 target price on shares of Apollo Global Management in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, October 10th. Finally, Citigroup Inc. raised their target price on shares of Apollo Global Management from $35.50 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Apollo Global Management presently has an average rating of “Buy” and an average target price of $33.38.
In other Apollo Global Management news, major shareholder Tiger Global Management Llc acquired 253,672 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average cost of $28.48 per share, with a total value of $7,224,578.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A B. Krongard bought 1,000 shares of the stock in a transaction on Monday, August 28th. The stock was purchased at an average price of $29.28 per share, with a total value of $29,280.00. The disclosure for this purchase can be found here. Company insiders own 4.11% of the company’s stock.
Shares of Apollo Global Management, LLC (NYSE APO) traded down $0.11 during mid-day trading on Friday, reaching $30.39. 1,090,600 shares of the company traded hands, compared to its average volume of 961,401. The stock has a market capitalization of $5,881.68, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.23. The company has a current ratio of 1.74, a quick ratio of 1.80 and a debt-to-equity ratio of 0.58. Apollo Global Management, LLC has a 12 month low of $18.75 and a 12 month high of $33.37.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.51. The company had revenue of $645.20 million for the quarter, compared to analyst estimates of $467.72 million. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. Apollo Global Management’s revenue was up 31.1% compared to the same quarter last year. During the same period last year, the company posted $0.58 earnings per share. analysts anticipate that Apollo Global Management, LLC will post 2.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Tuesday, November 21st will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.13%. The ex-dividend date is Monday, November 20th. Apollo Global Management’s payout ratio is 67.97%.
About Apollo Global Management
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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