7,169 Apollo Global Management Inc. $APO Shares Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC raised its position in Apollo Global Management Inc. (NYSE:APO) by 811.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,053 shares of the financial services provider’s stock after acquiring an additional 7,169 shares during the period. Provenance Wealth Advisors LLC’s holdings in Apollo Global Management were worth $935,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

APO has been the subject of several recent analyst reports. Morgan Stanley cut their target price on Apollo Global Management from $150.00 to $149.00 and set an “overweight” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods decreased their price target on Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price target on shares of Apollo Global Management in a research note on Wednesday. Wells Fargo & Company assumed coverage on Apollo Global Management in a report on Friday, October 2nd. They set an “equal weight” rating and a $127.00 price target for the company. Finally, Rothschild & Co Redburn raised their price objective on Apollo Global Management from $171.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $147.30.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.30% of the stock is owned by company insiders.

Apollo Global Management Stock Up 8.3%

Apollo Global Management stock opened at $122.96 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.41. The firm has a 50 day moving average price of $121.46 and a 200 day moving average price of $123.19. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The company has a market capitalization of $72.61 billion, a PE ratio of -67.19, a price-to-earnings-growth ratio of 1.05 and a beta of 1.51.

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). The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a negative net margin of 2.98% and a positive return on equity of 12.11%. 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 company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Wednesday, November 18th will be issued a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is 82.42%.

More Apollo Global Management News

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

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.