Apollo Global Management Inc. $APO Stake Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in Apollo Global Management Inc. (NYSE:APO) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 876,305 shares of the financial services provider’s stock after selling 31,025 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Apollo Global Management were worth $101,704,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of APO. Steigerwald Gordon & Koch Inc. boosted its position in Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Continuum Advisory LLC purchased a new position in shares of Apollo Global Management during the 2nd quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Apollo Global Management during the 2nd quarter valued at approximately $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of Apollo Global Management during the 2nd quarter valued at approximately $38,000. Finally, MADDEN SECURITIES Corp acquired a new position in shares of Apollo Global Management in the 3rd quarter valued at $55,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. TD Cowen dropped their price target on shares of Apollo Global Management from $159.00 to $154.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. UBS Group cut their price objective on shares of Apollo Global Management from $172.00 to $163.00 and set a “buy” rating for the company in a report on Tuesday, October 13th. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, BMO Capital Markets lowered their target price on shares of Apollo Global Management from $134.00 to $124.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 27th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.40.

Apollo Global Management Trading Up 3.3%

Shares of NYSE:APO opened at $119.69 on Tuesday. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The firm has a market capitalization of $70.68 billion, a price-to-earnings ratio of 43.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The business’s 50 day moving average price is $122.04 and its 200-day moving average price is $123.45.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period in the prior year, the business posted $1.92 EPS. On average, equities research analysts forecast that Apollo Global Management Inc. will post 7.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

About Apollo Global Management

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.