Exchange Traded Concepts LLC Has $1.34 Million Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Exchange Traded Concepts LLC grew its stake in Apollo Global Management, Inc. (NYSE:APO) by 140.1% during the third quarter, HoldingsChannel.com reports. The firm owned 10,725 shares of the financial services provider’s stock after buying an additional 6,259 shares during the period. Exchange Traded Concepts LLC’s holdings in Apollo Global Management were worth $1,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Curated Wealth Partners LLC increased its stake in Apollo Global Management by 200.3% in the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after purchasing an additional 4,717,661 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Apollo Global Management by 40.3% in the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after buying an additional 1,360,525 shares during the period. Jennison Associates LLC increased its position in shares of Apollo Global Management by 199.8% in the 1st quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock valued at $104,041,000 after buying an additional 616,575 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Apollo Global Management during the 2nd quarter worth $62,972,000. Finally, 1832 Asset Management L.P. lifted its holdings in Apollo Global Management by 66.0% during the first quarter. 1832 Asset Management L.P. now owns 1,257,460 shares of the financial services provider’s stock worth $141,401,000 after acquiring an additional 499,930 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Wolfe Research started coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 target price on the stock. TD Cowen upped their price target on shares of Apollo Global Management from $135.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Finally, Redburn Partners assumed coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $138.06.

Apollo Global Management Price Performance

Shares of APO opened at $142.81 on Thursday. The company has a market cap of $81.14 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.39 and a beta of 1.62. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $119.16 and its 200 day simple moving average is $116.42. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $143.04.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $873.18 million. During the same period in the previous year, the company posted $1.54 earnings per share. On average, research analysts forecast that Apollo Global Management, Inc. will post 6.66 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.30%. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Insider Buying and Selling

In related news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is owned by insiders.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.