Apollo Global Management Inc. $APO Stock: Obermeyer Wealth Partners Increases Stake

Obermeyer Wealth Partners increased its holdings in Apollo Global Management Inc. (NYSE:APO) by 4,290.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,198 shares of the financial services provider’s stock after acquiring an additional 135,050 shares during the quarter. Obermeyer Wealth Partners’ holdings in Apollo Global Management were worth $16,039,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in APO. Eagle Rock Investment Company LLC lifted its position in shares of Apollo Global Management by 8.5% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 57,652 shares of the financial services provider’s stock worth $6,612,000 after purchasing an additional 4,511 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Apollo Global Management by 83.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 29,833 shares of the financial services provider’s stock valued at $3,188,000 after purchasing an additional 13,613 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Apollo Global Management by 311.2% during the third quarter. Crossmark Global Holdings Inc. now owns 64,941 shares of the financial services provider’s stock valued at $7,537,000 after buying an additional 49,148 shares during the period. Sowell Financial Services LLC increased its position in shares of Apollo Global Management by 2,040.9% during the third quarter. Sowell Financial Services LLC now owns 77,009 shares of the financial services provider’s stock valued at $8,938,000 after buying an additional 73,412 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Apollo Global Management by 586.0% during the third quarter. Quadrant Capital Group LLC now owns 22,033 shares of the financial services provider’s stock valued at $2,557,000 after buying an additional 18,821 shares during the period. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, 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 this link. 8.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on APO. HSBC assumed coverage on shares of Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective for the company. UBS Group reduced their target price on Apollo Global Management from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Piper Sandler reduced their target price on Apollo Global Management from $159.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley decreased their target price on 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. Finally, TD Cowen lowered their target price on Apollo Global Management from $159.00 to $154.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.90.

Apollo Global Management Stock Performance

Shares of APO stock opened at $111.76 on Thursday. The company’s fifty day moving average price is $125.24 and its 200-day moving average price is $125.26. The stock has a market cap of $66.00 billion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 1.02 and a beta of 1.58. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29.

Apollo Global Management (NYSE:APO) last released its earnings results 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 business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. During the same period in the prior year, the company earned $1.92 earnings per share. On average, equities analysts expect that Apollo Global Management Inc. will post 7.97 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were paid a dividend of $0.5625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 annualized dividend and a yield of 2.0%. Apollo Global Management’s payout ratio is presently 82.42%.

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.