Nippon Life Global Investors Americas Inc. Buys 114,950 Shares of Apollo Global Management Inc. $APO

Nippon Life Global Investors Americas Inc. grew its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 449.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,540 shares of the financial services provider’s stock after buying an additional 114,950 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Apollo Global Management were worth $16,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Apollo Global Management in the third quarter worth about $16,154,000. Profund Advisors LLC raised its stake in shares of Apollo Global Management by 10.6% during the third quarter. Profund Advisors LLC now owns 5,296 shares of the financial services provider’s stock valued at $615,000 after acquiring an additional 509 shares in the last quarter. ProShare Advisors LLC lifted its stake in Apollo Global Management by 1.6% in the third quarter. ProShare Advisors LLC now owns 117,798 shares of the financial services provider’s stock worth $13,672,000 after acquiring an additional 1,906 shares during the period. Vise Technologies Inc. boosted its position in Apollo Global Management by 42.9% during the 3rd quarter. Vise Technologies Inc. now owns 7,418 shares of the financial services provider’s stock valued at $861,000 after acquiring an additional 2,227 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Apollo Global Management by 1,162.1% in the 3rd quarter. International Assets Investment Management LLC now owns 43,970 shares of the financial services provider’s stock worth $5,103,000 after buying an additional 40,486 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Transactions at Apollo Global Management

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

Apollo Global Management Stock Down 0.2%

Apollo Global Management stock opened at $115.65 on Monday. The company has a market capitalization of $68.30 billion, a PE ratio of 42.36, a price-to-earnings-growth ratio of 1.07 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The firm has a 50 day moving average price of $122.30 and a 200 day moving average price of $123.57.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data 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). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. Research analysts expect that Apollo Global Management Inc. will post 7.96 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.5625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management’s dividend payout ratio is 82.42%.

Analyst Upgrades and Downgrades

Several analysts have commented on APO shares. JPMorgan Chase & Co. lifted their price objective on shares of Apollo Global Management from $150.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada boosted their price target on shares of Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Morgan Stanley cut their price objective 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. HSBC started coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a “buy” rating and a $145.00 price target for the company. Finally, Rothschild & Co Redburn raised their price target on shares of Apollo Global Management from $171.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $151.40.

Apollo Global Management 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.