Apollo Global Management Inc. $APO Stock Acquired by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. boosted its stake in Apollo Global Management Inc. (NYSE:APO) by 449.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,540 shares of the financial services provider’s stock after acquiring 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 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nykredit A S purchased a new position in shares of Apollo Global Management during the second quarter worth about $14,515,000. Saudi Central Bank lifted its position in Apollo Global Management by 82.6% during the 2nd quarter. Saudi Central Bank now owns 29,346 shares of the financial services provider’s stock worth $3,472,000 after acquiring an additional 13,278 shares during the period. Cooper Financial Group grew its stake in shares of Apollo Global Management by 1,194.5% in the 3rd quarter. Cooper Financial Group now owns 48,143 shares of the financial services provider’s stock valued at $5,587,000 after purchasing an additional 44,424 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Apollo Global Management in the 2nd quarter valued at approximately $172,290,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Apollo Global Management by 130.0% in the second quarter. NewEdge Advisors LLC now owns 41,404 shares of the financial services provider’s stock valued at $4,899,000 after purchasing an additional 23,400 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the firm’s 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on APO shares. TD Cowen dropped their price objective on Apollo Global Management from $159.00 to $154.00 and set a “buy” rating on the stock in a report on Monday, October 12th. JPMorgan Chase & Co. boosted their target price on Apollo Global Management from $150.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Barclays raised their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Rothschild & Co Redburn raised their price target 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. Finally, Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $151.40.

Apollo Global Management Price Performance

APO opened at $115.65 on Monday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market cap of $68.30 billion, a P/E ratio of 42.36, a P/E/G ratio of 1.07 and a beta of 1.51. The company has a 50 day moving average of $122.30 and a two-hundred day moving average of $123.57. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. On average, analysts expect that Apollo Global Management Inc. will post 7.96 earnings per share for the current year.

Apollo Global Management Dividend Announcement

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

Apollo Global Management Company 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.