Beck Mack & Oliver LLC Grows Holdings in Apollo Global Management, LLC (APO)

Beck Mack & Oliver LLC raised its stake in shares of Apollo Global Management, LLC (NYSE:APO) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,058,730 shares of the financial services provider’s stock after purchasing an additional 2,695 shares during the quarter. Apollo Global Management accounts for 3.0% of Beck Mack & Oliver LLC’s portfolio, making the stock its 8th largest holding. Beck Mack & Oliver LLC owned approximately 1.58% of Apollo Global Management worth $92,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tiger Global Management LLC boosted its holdings in Apollo Global Management by 40.9% during the second quarter. Tiger Global Management LLC now owns 32,885,212 shares of the financial services provider’s stock valued at $869,814,000 after purchasing an additional 9,550,313 shares in the last quarter. Capital World Investors boosted its holdings in Apollo Global Management by 16.5% during the second quarter. Capital World Investors now owns 7,649,700 shares of the financial services provider’s stock valued at $202,335,000 after purchasing an additional 1,082,313 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Apollo Global Management by 48.3% during the second quarter. JPMorgan Chase & Co. now owns 5,241,867 shares of the financial services provider’s stock valued at $138,648,000 after purchasing an additional 1,707,154 shares in the last quarter. GMT Capital Corp boosted its holdings in Apollo Global Management by 224.2% during the second quarter. GMT Capital Corp now owns 4,268,063 shares of the financial services provider’s stock valued at $112,421,000 after purchasing an additional 2,951,622 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Apollo Global Management during the second quarter valued at approximately $54,333,000. 73.52% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on APO. Zacks Investment Research downgraded Apollo Global Management from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of Apollo Global Management in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $35.00 price objective on shares of Apollo Global Management in a report on Thursday, October 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $30.00 price objective (up from $28.00) on shares of Apollo Global Management in a report on Thursday, October 5th. Finally, JMP Securities reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Apollo Global Management in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $30.50.

In related news, major shareholder Tiger Global Management Llc bought 253,672 shares of the business’s stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $28.48 per share, for a total transaction of $7,224,578.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Kraft bought 30,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $28.88 per share, for a total transaction of $866,400.00. The disclosure for this purchase can be found here. Insiders acquired 324,672 shares of company stock worth $9,311,059 in the last 90 days. Company insiders own 4.11% of the company’s stock.

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Shares of Apollo Global Management, LLC (APO) traded down 0.10% on Tuesday, hitting $31.42. The stock had a trading volume of 355,409 shares. The company has a 50 day moving average of $30.72 and a 200-day moving average of $28.42. Apollo Global Management, LLC has a 12-month low of $17.65 and a 12-month high of $32.85. The firm has a market capitalization of $6.09 billion, a P/E ratio of 12.31 and a beta of 1.20.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The company had revenue of $432.87 million during the quarter, compared to analyst estimates of $455.29 million. During the same quarter in the prior year, the business earned $0.98 EPS. The business’s quarterly revenue was down 34.5% on a year-over-year basis. Equities analysts predict that Apollo Global Management, LLC will post $2.50 EPS for the current fiscal year.

Apollo Global Management Company Profile

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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