Lecap Asset Management Ltd. Buys Shares of 7,510 Apollo Global Management, Inc. (NYSE:APO)

Lecap Asset Management Ltd. purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the third quarter, HoldingsChannel reports. The firm purchased 7,510 shares of the financial services provider’s stock, valued at approximately $938,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in Apollo Global Management during the second quarter worth about $35,000. Compagnie Lombard Odier SCmA purchased a new stake in Apollo Global Management during the 3rd quarter worth approximately $35,000. J.Safra Asset Management Corp lifted its holdings in Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Apollo Global Management by 293.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after buying an additional 346 shares during the period. Finally, Orion Capital Management LLC grew its stake in shares of Apollo Global Management by 20.0% in the first quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 100 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on APO shares. Argus reduced their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods lifted their price target on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Redburn Partners assumed coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group increased their target price on Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $139.56.

Insiders Place Their Bets

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $143.54 on Thursday. The company has a 50-day moving average of $122.43 and a 200-day moving average of $117.37. The firm has a market cap of $81.55 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth 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. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve month high of $146.82.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate 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 company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. During the same period in the prior year, the company earned $1.54 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.4625 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.29%. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

About Apollo Global Management

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.